1.45.080 Responsibilities.*
The Committee shall be responsible for the duties listed in this section.
(a) For financial statements:
(1) With the assistance and support of staff offices, select and appoint the certified public accountant required to audit the Commission’s annual financial statements;
(2) Review the annual independent audit report with management and WSSC’s external auditors, including any difficulties encountered;
(3) Review WSSC’s annual financial statements for completeness, consistency with information known to Committee members, and use of appropriate accounting principles; and
(4) Review with management and external auditors all matters required to be communicated to the Committee under generally accepted auditing standards.
(b) For internal control:
(1) Understand the scope of external auditors’ review of WSSC’s internal control over financial reporting; and
(2) Obtain the results of external auditors’ report on WSSC’s internal control over financial reporting.
(c) For internal auditing:
(1) Provide suggestions to the Office of the Inspector General regarding the Office’s development of a written work plan; and
(2) On an as-needed basis, and to the extent permitted by the Open Meetings Act, meet separately with the Internal Auditors to discuss any matters that should be presented in closed session.
(d) For external auditing:
(1) Review the external auditors’ proposed audit scope and approach, including coordination of audit effort with the Inspector General; and
(2) On an as-needed basis, and to the extent permitted by the Open Meetings Act, meet separately with the external auditors to discuss any matters that should be presented in closed session.
(e) For compliance:
(1) Review how WSSC management monitors WSSC staff compliance with laws, rules and regulations, and review management’s investigation and follow-up, including disciplinary action or any instances of noncompliance; and
(2) Review the results of compliance examinations conducted by the Office of the Inspector General and external auditors.
(f) For other responsibilities:
(1) Subject to authorization by the Commission, the Committee may:
(i) Retain independent or outside counsel, accountants or others to advise and assist the Committee in connection with any of its activities, as the Committee determines necessary to carry out its duties;
(ii) Authorize internal investigations to be performed by an external entity or professional; and
(iii) Refer a matter for investigation to the Office of the Inspector General as generally established in Public Utilities Article, Title 17, Subtitle 6, Annotated Code of Maryland;
(2) At least every five years, review the adequacy of this chapter; and
(3) Perform other activities related to this charter as necessary. (Res. 2023-2347)
* Code reviser’s note: Resolution No. 2023-2347 set out this section as WSSC 1.45.060. It has been editorially renumbered to avoid duplication.