AUDIT ADVISORY COMMITTEE

Purpose

The Nassau County Comptroller’s Audit Advisory Committee (Committee) was established by Comptroller Howard S. Weitzman in 2003 to garner outside advice and oversight for the County’s financial and auditing operations.

The Committee assists in monitoring Nassau County’s finances and oversees the independent audit of the County’s financial statements. The Committee provides advice to the Comptroller in connection with his selection of the County’s independent auditor. The Committee examines the appropriateness of the external audit’s scope, reviews audit results, and assesses the adequacy of internal controls by both the administration and the auditors. In addition, the Committee reviews and comments on the Comptroller’s internal audit plan, audits prepared pursuant to that plan, agency responses, and County control directives and procedures. The Committee periodically conducts special projects and provides advice and consultation on other matters affecting the County’s finances.

Current Committee Members:

The Committee consists of five independent members, plus designees from the County Executive and the County Comptroller. The County Comptroller and a director of the County’s current independent auditor attend every meeting. Service on the Committee is pro bono. Outside members of the Committee serve staggered terms to ensure continuity and stability.

Robert A. Wild: Chairman and Managing Partner of Garfunkel, Wild & Travis, P.C., a law firm specializing in healthcare. Mr. Wild is the Chairman of the Committee and also serves on the Nassau Health Care Corporation Subcommittee.

Louis C. Grassi

Louis C. Grassi: Managing Partner of Grassi & Co., a full service tax, accounting, and business advisory firm. Mr. Grassi is a member of the American Institute of Certified Public Accountants (AICPA) and is on the Board of Trustees of The New York Institute of Technology. Mr. Grassi chairs the External Audit Firm RFP Subcommittee.

John Howell: Certified Public Accountant and Retired Tax Partner of Ernst & Young; Mr. Howell was also a Financial Advisor at American Express Financial Advisors (now called Ameriprise Financials).

Lee E. Launer: Retired partner of PriceWaterhouseCoopers LLP. Mr. Launer is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries and a Fellow of the Conference of Consulting Actuaries. Mr. Launer serves on the Nassau Health Care Corporation Subcommittee.

John B. Schwartzman: Adjunct Associate Professor of Finance at Hofstra University and President of the Village of Sea Cliff Library Board of Trustees. A former Chief Investment Officer for Citicorp Investment Services, he was a compliance supervisory principal responsible for approving investment products, sales policies, and advertising.

Aline Khatchadourian: Nassau County’s Deputy Comptroller for Audit & Special Projects. Ms. Khatchadourian is the designee of the County Comptroller. A Certified Public Accountant with professional experience in public and private accounting, she is also on the Manhasset School Board and has a position on the school board's Audit Subcommittee.

Thomas W. Stokes: Nassau County’s Deputy County Executive for Management, Budget and Finance, Mr. Stokes is the designee of the County Executive. Prior to assuming his current position, Mr. Stokes was Nassau County’s Chief Financial Officer and Strategist for Health & Human Services. Before joining Nassau County he was Assistant Director of Finance and Operations with Cap Gemini Ernst & Young LLC.

PAST INDEPENDENT MEMBERS:

(Note: The cited affiliation is the member's affiliation at the time of his or her appointment to the Committee.)

H. Richard Grafer: A retired Partner and Managing Director of Arthur Andersen, LLP, sole owner and Managing Member of Pathway Investments, LLC, a venture capital firm investing in companies with a social mission.

Vivianne Hernandez: Partner with Strategic Value Partners LLC, a high yield and distressed debt global hedge fund management firm.

Ralph S. Polimeni: Former Vice Provost at Hofstra University, where he also holds the Chaykin Endowed Chair in Accounting.

Edward S. Scott: Deputy General Counsel and Vice President of Development and Acquisitions for UrbanAmerica, LP.

Terence Smolev: Partner-in-charge of the Tax, Trusts, and Estates Department at Forchelli, Curto, Deegan, Schwartz, Mineo, Cohn & Terrana, LLP.