Municipal Audit Services

The Vendor is required to provide for the services of a qualified chartered professional accounting firm to conduct the financial and compliance audit of the municipality’s operations.
- Services will include, but are not limited to:
• Planning and performing the audit
• Performing tests of documentary evidence
• Evaluation of internal controls
• Review of Management Letter
• Review of adjusting journal entries
• Draft and final Audit Report (includes approximately 12 copies)
• Technical assistance throughout the fiscal year
• Review of the yearend financial reports
• Pension Plan Audit 
- Provides municipal services, including administration, finance, public works, environmental, protective services, recreation, water and wastewater services.
- The auditor will also provide compliance reports as required under federal and provincial legislation.
- Plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether caused by error or fraud and conformity with GAAP.
- Perform tests of documentary evidence supporting the transactions recorded in the accounts, which may include tests of the physical existence of inventories and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected individuals, creditors and financial institutions.
- Perform tests of agency compliance with applicable laws and regulations and provisions of contracts and agreements.
- Prepare a report on compliance with specific requirements applicable to major federal and provincial assistance programs, if required.
- Review the internal accounting controls of agency to an extent necessary to evaluate the system as required by applicable standards.
- Issue a management report making recommendations for improvement.
- The auditor shall be required to make an immediate, written report of all irregularities and illegal acts or indications of illegal acts of whereby they become aware to the officer and deputy officer.
- Inform the officer and deputy officer of any matters involving internal control and its operation that the auditor considers being reportable conditions under standards established by the chartered accountants handbook.
- Provide agency with adjusting entries and final trial balance upon completion of the audit.
- Contract Period/Term: 5 years