I could support this more if it:
- also included auditing EWEB which is a creature of the city charter, too,
- was going to cost less money over all,
- paid the auditor less money - say equivalent to a county commissioner  
- term limited the auditor to 8 years,
- made its employees not subject to PERS (so we don't just get some elected (or even appointed) official with high name ID running for the job so as to pad his /her PERS pension), 
- include some rational way to fill a vacancy in the office - that did not include appointment by the city council.

But the intended separateness... right on!