Auditor Rotation

Board Policy 4.001

The Board of Trustees shall periodically rebid the College’s financial audit work. The external audit firm, selected through a bidding process, shall be appointed annually for not more than five consecutive audits. At the completion of the same firm’s fifth consecutive audit, the Board shall issue a request for proposals to select a firm for the next audit cycle of five years.

If the Board selects the incumbent audit firm to continue to perform the financial audit for a subsequent five-year period, the Board shall require a change in the partner in charge of the audit from the audit firm.

The Board reserves the right, notwithstanding this policy, to change the audit firm at any time.

Board Action 5378 – April 6, 2021