sec.105Auditing, including internal auditing

### sec.105 Auditing, including internal auditing Each local government must establish an efficient and effective internal audit function. Each large local government must also establish an audit committee. A large local government is a local government that belongs to a class prescribed under a regulation. An audit committee is a committee that— monitors and reviews— the integrity of financial documents; and the internal audit function; and the effectiveness and objectivity of the local government’s internal auditors; and makes recommendations to the local government about any matters that the audit committee considers need action or improvement. s 105 amd 2010 No. 23 s 294 ; 2012 No. 33 s 107A (sec.105-ssec.1) Each local government must establish an efficient and effective internal audit function. (sec.105-ssec.2) Each large local government must also establish an audit committee. (sec.105-ssec.3) A large local government is a local government that belongs to a class prescribed under a regulation. (sec.105-ssec.4) An audit committee is a committee that— monitors and reviews— the integrity of financial documents; and the internal audit function; and the effectiveness and objectivity of the local government’s internal auditors; and makes recommendations to the local government about any matters that the audit committee considers need action or improvement. - (a) monitors and reviews— (i) the integrity of financial documents; and (ii) the internal audit function; and (iii) the effectiveness and objectivity of the local government’s internal auditors; and - (i) the integrity of financial documents; and - (ii) the internal audit function; and - (iii) the effectiveness and objectivity of the local government’s internal auditors; and - (b) makes recommendations to the local government about any matters that the audit committee considers need action or improvement. - (i) the integrity of financial documents; and - (ii) the internal audit function; and - (iii) the effectiveness and objectivity of the local government’s internal auditors; and