For the purposes of studying and reviewing the financial transactions of this state; to assure the collection and expenditure of its revenues and moneys in compliance with law and legislative intent and sound financial practices; and to provide the legislative assembly with formal, objective information on revenue collections and expenditures for a basis of legislative action to improve the fiscal structure and transactions of this state, the legislative management shall appoint the legislative audit and fiscal review committee. The members of the committee must be appointed in the same manner as other members of interim committees of the legislative management.