Committee recommends continuing current external auditor arrangement

The Finance & Audit Committee voted to recommend continuing the authority's engagement with the current external auditor after staff described the firm as providing a stable, negotiated rate. Chair called for the motion and the committee adopted it on a voice vote.

Staff told the committee this is the third year of the fee arrangement with the auditor and that the engagement covers the external audit plus evaluations of the PFC program, internal controls and grant compliance. Robert said the recommendation reflects an already-negotiated rate and that it would be late to attempt a change now. "It was already a negotiated, rate, stable," he said.

Why it matters: the external auditor issues the authority's financial opinion and management letter, which inform board oversight and financial disclosures. The committee's recommendation will be forwarded per committee practice for final board consideration, and staff said the auditors will continue their deliverables covering audit opinions and program reviews.