The responsibilities of the audit committee include
   ●  a detailed review of the financial statements of the municipality with the auditor;
   ●  an evaluation of internal control systems and any management letter with the auditor;
   ●  a review of the conduct and adequacy of the audit;
   ●  such matters arising out of the audit as may appear to the audit committee to require investigation;
   ●  such other matters as may be determined by the council to be the duties of an audit committee;
   ●  any other matters as may be determined by the council.