Title
An Ordinance Amending Ordinance No. 25-31, Section 5 (Appointing Natalie Lovell As City Auditor And Prescribing Her Duties, Compensation, and Tenure In Office, And Superseding And Repealing All Prior Ordinances Inconsistent With The Provisions Of This Ordinance), And Removing The Requirement Of Certification As A Colorado Certified Public Accountant For The Position Of City Auditor.
Presenter:
Myra Romero, Chief Human Resources and Risk Officer
Lynette Crow-Iverson, City Council President
Body
Summary:
City Charter City Charter, Art. III, ? 3-10(e) requires that City Council appoint a City Auditor by a concurring vote of a majority of its members, and prescribe their duties, compensation, and tenure of office by ordinance.
Background:
By passage of Ordinance 25-31, Natalie Lovell was appointed as City Auditor effective March 11, 2025. Ms. Lovell's appointment was expressly conditioned upon her attaining certification as a Colorado Certified Public Accountant (CPA) within two (2) years of the date of her appointment.
After further study by City Human Resources, it was determined that neither the duties of the City Auditor nor industry standard require a CPA. The CPA credential is primarily designed for external auditors who issue financial statements and provide audit opinions in accordance with U.S. Generally Accepted Auditing Standards (GAAS). In contrast, the role of an internal auditor, such as the City Auditor role, particularly in the public sector, centers on evaluating risk, governance, internal control, compliance, and performance and is not governed by GAAS but by the Internal Auditors IIA's Global Internal Audit Standards. The IIA's standards do not require CPA licensure, and the internal audit function can be effectively, and by design, led without it. Other major U.S. cities have successfully appointed or elected City Auditors without CPA licenses, reflecting a broader emphasis on independence, objectivity, leadership, internal...
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