Audit Review Committee

On September 22, 2003, Ordinance No. 03-058, the City Council established an Audit Review Committee (ARC). The purpose of the ARC is to assist the City in fulfilling its oversight responsibility for the integrity of the City’s financial and operational results, compliance with legal and regulatory requirements and performance of the City’s Audit Department and independent auditors.

Authority

The Audit Review Committee has authority to conduct or authorize special audits and investigations into any matters within its scope of responsibility. It is empowered to:

  • Approve the City Auditor’s Annual Audit Plan.
  • Resolve any disagreements between management and the internal/external auditors regarding financial or operational control and reporting.
  • Review and accept external auditors’ reports along with management’s written responses when appropriate.
  • Meet with City management, external auditors, legal counsel, or others as necessary.
  • Be consulted regarding changes in the City auditor’s duties.
  • Be immediately informed of all matters that impair the conduct of an audit or review; however, where feasible such matters shall be first brought to the attention of the Mayor’s Chief of Staff before communicating them to the Audit Review Committee.
  • Review and approve requests for special audits requested by elected officials.

Responsibilities

Financial and Operational Review Oversight
Review significant accounting, operational and reporting issues and understand their impact on the financial and operating results on the overall City’s system of internal control.

Review the results of internal audits and reviews with management and the City Auditor.

Review and discuss the annual audited financial statement results with management, the external auditors and the City auditor.

Internal Control
Evaluate the effectiveness of the city’s internal control system, including information technology security and control.

Understand the scope of internal and external auditors’ review of internal control over financial and operational reporting and obtain reports on significant findings and recommendations, together with management’s responses.

City Audit Department
Review with the City auditor and management the annual audit plan, activities, staffing and organizational structure of the City Audit Department.

Ensure there are no unjustified restrictions or limitations

Review the effectiveness of the City Audit Department function including compliance with the Institute of Internal Auditors Standards for the Professional Practice of Internal Auditing and the General Accountability Office’s Generally Accepted Government Auditing Standards.

Composition

As stated in the City Code the Audit Review Committee shall consist of the administrative assistant to the Mayor; finance director; budget director; chair city council finance committee, city council chief of staff or designee; one member of council appointed by the president and the city treasurer.


Contact the Audit Department

Mailing Address

City Audit Department
Louis L. Redding City/County Building
800 N. French Street, 5th Floor
Wilmington DE 19801

Phone: (302) 576-2165

Fax: (302) 573-5644

Fraud Hotline: (877) 217-4670


MEMBER ORGANIZATIONS

Visit the American Institute of CPAs website.Visit the Association of Certified Fraud Examiners website.
Visit the Association of Local Government Auditors website.Visit the Institute of Internal Auditors website.