Town approves auditors for upcoming review of finances
Updated 7:11 pm, Tuesday, June 6, 2017
NEW CANAAN — Auditors O’Connor Davies will be brought back for a sixth straight year to maintain consistency while the town rights its financial department.
The Board of Selectmen voted unanimously Tuesday, June 6 to bring the Paramus, N.J., accounting firm back to conduct the town’s audit for the fiscal year 2017.
“It’s a little longer than we usually stay with a firm but because of the issues, that they’ve been very involved with and working extremely closely with the audit committee, myself and now (Interim CFO) Sandy (Dennies), I think it’s appropriate we keep them,” First Selectman Robert Mallozzi III explained, referencing lingering “material weaknesses” in the town’s bookkeeping that have only recently begun to be resolved.
Those weaknesses resulted in a shakeup in the town’s finance department that saw the retirement of former Chief Financial Officer Dawn Norton and the hiring of Dennies.
“They’ve got their three auditors doing a preliminary of the 2017 audit today and tomorrow,” Dennies said.
The Town Council at their last meeting also approved the contract. According to Mallozzi, assuming the material weaknesses are resolved in this year’s audit, the town would likely undertake a more common Request for Proposal (RFP) process.
“They’ve done a wonderful job and spent a lot of time and effort. They show a great deal of interest in making sure we’re a world-class organization,” Mallozzi said, of O’Connor Davies.