Final-Audit-advisory-InReport 5-25-04 2

Nassau County Comptroller’s Audit Advisory Committee Interim Activities Report July 2004 Background: The Nassau County Comptroller’s Audit Advisory Committee was established to assist in the monitoring of Nassau County’s finances, and to advise the Comptroller regarding the county’s financial statements and audits as to compliance with generally accepted accounting principles and auditing standards. It is committed to assisting the county in increasing transparency and financial integrity in County Government. The committee assists in monitoring the independent audit of the County’s financial statements, from the selection of the independent auditor to providing advice on the resolution of audit findings. The Committee examines the appropriateness of the outside audit’s scope; the preparation of the annual financial statements; the audit results; and the assessment of the adequacy of internal controls by both the administration and the auditors. Similarly, the Committee will review and comment on the Comptroller’s internal audit plan, audits prepared pursuant to that plan, agency responses, and county control directives and procedures. It will periodically participate in special projects, and review special district audits filed annually with the Comptroller. Committee Composition: The Comptroller’s Audit Advisory Committee is composed of seven members: - County Executive or designee - y Comptroller or designee - Five ...