The province has announced that auditing firm Grant Thornton will perform a forensic audit on Bridgetown's books.
A new mayor, council and chief administrative officer are now in place in the troubled community, but they weren't voted in by the town's residents.
The provincial government appointed the team after the town's council, including the mayor, abruptly resigned last week over the town's dismal financial situation.
Financial irregularities surfaced in the town's books and there are questions about the recording of payments of some residents' tax and water bills.
Some residents say they have been receiving bills for services they've already paid for.
The findings have prompted the province to order, and pay for, a forensic audit because the town can't afford to.
The audit will examine the town's financial documents and provide information to the RCMP to support its investigation into the matter.
Council also plans to release the audit publicly.
"Municipalities in Nova Scotia, and indeed across the country, are facing challenges, and we are committed to working with them," says John MacDonell, Minister of Service Nova Scotia and Municipal Relations in a statement released Thursday.
"The situation in Bridgetown clearly goes well beyond this, given we have an RCMP investigation and the resignation of an entire council."
The audit is expected to take four months to complete and will cost roughly $125,000.
"The people of Bridgetown want a clear picture of their town's finances. This will give them the answers they need and deserve," says the town's new mayor, Robert Fowler. "It will also allow us to set a budget, deliver services and help plan for the town's future."
Anna Allen and Jim Thurber have been appointed to serve as town councillors.
Fowler has more than 34 years of public service experience and Allen and Thurber both have experience in Valley municipal governments.
They will serve on council until the town's financial status is determined and will help to make decisions about its long-term future.
"Bob, Anna and Jim have the experience and skills Bridgetown needs during this time of transition," says Service Nova Scotia and Municipal Relations Minister John MacDonell in a statement released Wednesday.
"Anna, Jim and I are looking forward to helping Bridgetown get back on its feet," says Mayor Fowler. "We will do whatever needs to be done to ensure the residents of Bridgetown are heard, and get the stable government and services they expect and deserve."
Darrell Hiltz, a former chief administrative officer for the town of Chester, has been appointed the CAO in Bridgetown.