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Interaction with External Auditors

LMC Revised Date

Office of Origin: Finance
Original Date Adopted: 07-24-07
Dates Reviewed: 01-15-12, 11-20-17
Last Date Modified & Approved: 01-15-12, 11-20-17

Policy Statement:

It is the policy of Lake Michigan College (the College) to cooperate fully with all external auditors.   

An external auditor is an independent professional who performs a prescribed set of procedures in accordance with specific rules or regulations on a component or set of components of the College or its programs.  These procedures provide a basis for the independent auditor to make conclusions on the audit objective set and express an opinion.

An external auditor may be from a professional services firm or from a state, federal, or local governmental unit, among others.

As outlined in the related procedure (Interaction with External Auditors), it is expected that external auditors and College personnel will observe certain procedures intended to facilitate orderly audits and to minimize disruption of normal College operations. 

Responsibility:   Chief Financial Officer

References:  Lake Michigan College Interaction with External Auditors procedure

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