audit-committee-minutes-2005

M E M O R A N D U M TO:Audit Committee Jon Strinden Ron Leingang FROM: Jamie Kinsella, Internal Auditor DATE: March 18, 2005 SUBJECT: January 11, 2005 Audit Committee Meeting In Attendance: Jon Strinden via conference call Ron Leingang Sparb Collins Jamie Kinsella Shelly Stuber The meeting was called to order at 1:30 p.m. I. August 11, 2004 Audit Committee Minutes The audit committee minutes were examined and approved by the Audit Committee. II. Goals and Objectives Project Update The updated goals and objectives report on the activities that occurred during the last quarter in the internal audit division was included with the audit committee materials. III. Administrative A Quarterly Audit Finding Status Report – As stated in the Audit Policy #103, the Internal Audit Division is to report quarterly to management and the audit committee the status of the audit findings of the external auditors, as well as any found by the internal auditor. A copy of the report was included with the audit committee materials. Mr. Collins inquired if this included any recent recommendations. Ms. Kinsella explained that Eide Bailly’s recommendations and any from internal audits for 2004 would be included on the next report. All findings will remain on the report until they reach 100% completion. B. Reporting to Board and Senior Management – This item is to address reporting the ...