The problem is the CM represents the city, not the taxpaying community, the community did not elect the CM.  Furthermore, the city council majority simply rubber stamps the CM's proposals.  So, where does that leave the public?

The minimum qualifications, (from cityaccountability.org), are "3.75 Auditors engaged to perform financial audits or attestation engagements should be licensed certified public accountants, persons working for a licensed certified public accounting firm or for a government auditing organization, or licensed accountants in states that have multi-class licensing systems that recognize licensed accountants other than certified public accountants.

This ballot initiative is not about "power", it's about getting unbiased objective audits of the city, and making all audits available to the public.

Why wait for details, all the details are available on the website, with references and official requirements.  If you can't find what you need, contact the petitioners.