Municipal Audit Services

The vendor is required to provide annual municipal audit in a timely manner and in accordance with required standards, generally accepted auditing principles, the municipalities act and the municipalities regulations. 
- Audits will result in an opinion to the village’s council as to the fairness of the annual consolidated financial statements and related schedules. 
- It is agreed by both parties that the annual audit for the preceding year is to be fully completed prior to the end of many in the current year.
- To perform all necessary tests of documentary evidence.
- To evaluate internal controls of the village.
- To prepare and review the annual management letter.
- To review and finalize adjusting journal entries.
- To review and finalize the year-end financial statements.
- To submit the finalized statements of the village.
- To submit the approved financial statements to the provincial government.
- To provide technical accounting assistance as required by the village by the village staff through the
fiscal year.
- The auditor shall maintain professional liability with respect to professional liability as required and specifically named for the services, including errors and omissions, with a limit of not less than $1,000,000 per occurrence with respect to the services alone. 
- The auditor shall, without limiting its obligations or liabilities and at its own expense, provide and maintain insurance for its own equipment and continuously carry insurance costs (as required by law). 
- Provide verified copies of required insurance policies when requested. 
- the auditor will be registered with work safe state and maintain work safe state coverage for the Duration of the engagement. 
- The auditor will abide by all provisions of the workers compensation act provide proof to the village that all assessments have been paid and that they are in good standing. 
- It is a condition of contract that the auditor must remain in good standing throughout the term of any contract between the village and the auditor.

- Contract Period/Term: 3 years