Annually recommends to the Board of Directors a firm of independent public accountants to audit the books and accounts of the association. Determines the scope of the audit examinations to be performed and the fees to be paid. Reviews the reports and certified financial statements prepared by the independent public accountants and presents the results to the board. Reviews the expenses of the association's chair, president and staff officers. Recommends to the board any actions deemed appropriate regarding the association's accounting system, internal controls, and any other matters brought to the committee's attention by the independent public accountants or from other sources.