The American Institute of CPAs has produced a toolkit for government audit committees, the third in a series.
The publication, "The Audit Committee Toolkit: Government Organizations," covers a number of governance topics, including conducting an executive session; discussions to expect from the independent auditor; peer review of CPA firms; evaluating independent auditors; and fraud and internal controls.
"In cities, counties and other local governments, the taxpayers are demanding more accountability from their elected officials," said the chairman of the AICPA Government Performance and Accountability Committee, Costa Triantaphilides, in a statement. Triantaphilides is also city auditor of Fort Worth, Texas. "This new guidance will help these governments set high standards of accountability and provide useful guidelines for elected officials," he said.
The toolkit is the third in a series issued by the AICPA in response to heightened focus on audit committees in all environments. The first toolkit covered audit committees of companies, while the second, released last month, was for not-for-profit organizations. The AICPA's Web site also includes an audit committee matching system, an online tool that organizations can use to search a database of over 2,000 CPA audit committee candidates.
The toolkits, and others in the series, are available for free download at: www.aicpa.org/audcommctr/homepage.htm.
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