Rotating auditors is sound practice and can protect taxpayers from potential corruption and abuse. The Government Finance Officers Association (GFOA), a membership organization that represents public finance officials throughout the United States and Canada, recommends governments complete a full-scale competitive search for the selection of independent auditors, rotate auditors every five years, and replace engagement partners and senior managers if rotation is not possible.
Two years ago, North Riverside took a big step in securing the confidence of its residents and maintaining governmental transparency by hiring a finance director with extensive experience in municipal finance.
However, for the last 17 years, North Riverside has engaged the same auditing firm, even though there are at least three other firms with extensive experience auditing municipal governments in our region. Further, the current village administrator for the last two years served as the North Riverside’s finance director for approximately 20 years.
We need a fresh perspective.
I urge the leaders of the village of North Riverside to follow GFOA recommendations to rotate audit firms and to alternate senior managers to participate in the audit process.
Caroline Teter, North Riverside