At a Regular Session of the Westerville City Schools Board of Education held on September 25, five community members were appointed to serve on the FY 2017 Audit Committee. They are:
- Matt Bartosic CPA, BDO USA LLp, Senior Assurance Associate;
- Margaret Doone, Worthington Libraries, Business Manager/Chief Fiscal Officer;
- Alfred Hammond Jr., Bureau Chief, Bureau of Audit, Control and Claims Support;
- Keith Gaskins, CPA, MAcc, ArmorSorce, Vice President of Finance; and
- Erik Kyre, Huntington National Bank, Vice President, Treasury Group CFO/Capital Stress Testing FP&A Manager.
This non-voting audit committee is charged with assisting the Board to understand unfamiliar audit terminology and concepts, and to verify that audit recommendations are addressed in a timely and appropriate manner. Specifically, the audit committee is directed to perform the following functions:
- Review the annual unaudited financial report submitted to the Auditor of State;
- Periodically review the process used to prepare interim financial information submitted to the Board;
- Review audit results;
- Assure that the audit recommendations are appropriately addressed;
- Assure auditors’ independence from the Board and Administration; and
- Serve as liaison between the Board and the independent auditors.
The audit committee is expected to meet on an annual basis to monitor the District’s financial reporting and control activities, and with its independent auditors before and after each audit. The audit committee is further directed to meet at least twice during the audit process, if the committee deems it necessary:
- Before the auditors begin the audit, to review audit plans and communicate any special area of concern; and
- Near the end of the audit, to review the draft audit report.
To assist the audit committee in carrying out its functions, auditors are requested to communicate the following information to the members of the audit committee:
- The auditors’ professional responsibility under generally accepted auditing standards;
- Selections of accounting policies;
- Sensitive accounting estimates;
- Significant audit adjustments;
- Disagreements with management; and
- Difficulties encountered in performing the audit.
At least annually, the audit committee is responsible for presenting a formal report, which details its activities, to the Board and the community.