Finance board considers including education board in town audit
During its May 17 meeting, the Board of Finance decided to postpone voting on extending consulting firm Blum Shapiro's audit of the town to include the Board of Education.
Finance board member Richard Creeth said he recently met with two members of an audit committee in New Canaan and realized that he doesn't "understand the scope of these audits."
“I got the sense ... that there’s a sort of defined protocol that they go through, which is very different from many other outstanding audit providers that I’ve had," said Creeth, who proposed Wilton’s finance board do "a little bit more research” on the audit process before voting on an audit extension.
"We know that the Board of Education wants to extend their audit — not just in terms of doing an audit on the Board of Education like on the town, but they’re also interested in doing a compliance audit," said Creeth.
“We know that our audit on the town is very unclear about how much compliance work is done, and I think it would be worth it to do a little bit of digging and meet with Blum Shapiro to get more substantial understanding on the degree of compliance testing they do and audit testing."
Creeth said he also senses that "there’s less actual testing going on" than he "would have normally expected from a normal, commercial audit."
"I just feel uncomfortable making any decisions without knowing more," he said.
After learning that Board of Education member Chris Stroup has been talking to other professional firms about compliance audits and control evaluations for the education board, Creeth said, he believes the finance board needs to "get our arms around this and decide what level of audit work we want."
"To me, it would make sense to work out the scope of everything we're trying to do," he said.
The finance board agreed to meet with Blum Shapiro next month in order to get a deeper understanding of the firm's audit process.
The Board of Finance’s next meeting is scheduled for Tuesday, June 21, at 7:30 p.m., in Room B of town hall.