External Audit Services

The Vendor is required to provide for financial and compliance audits.
- The City intends to issue annually an Annual Comprehensive Financial Report (ACFR) prepared in accordance with generally accepted government accounting principles and all applicable federal and state requirements.
- Audit shall be designed to accomplish the following objectives To determine whether the financial statements present fairly the respective financial position of the governmental activities, business-type activities, discretely presented component unit, each major fund, and the aggregate remaining fund information and the respective changes in financial position and cash flows, where applicable, thereof [and the respective budgetary comparison for each governmental funds] in conformity with accounting principles generally accepted in the country.
- To obtain an understanding of the components of internal control that is sufficient to assess the risks of material misstatement of the financial statements whether due to error or fraud, and to design the nature, timing, and extent of further audit procedures. 
- Because an audit of a government's financial statements is based on opinion units, the auditor's consideration of internal control in assessing the risks of material misstatement should address each opinion unit. 
- The auditor should obtain a sufficient understanding by performing risk assessment procedures to (a) evaluate the design of controls and (b) determine whether they have been implemented. 
- The auditor should use such knowledge to identify types of potential misstatements; consider factors that affect the risks of material misstatement; and design tests of controls, when applicable, and subsequent procedures. 
- In acquiring an understanding of and assessing internal control, the auditor should consider computer controls as well as the controls over manual portions of the system. 
- To provide reasonable assurance of detecting material misstatements that result from violations of provisions of contracts or grant agreements that could have a direct and material effect on the determination of financial statement amounts or other financial data significant to the audit objectives.
- Auditors should use this information from previous engagements in assessing risk and determining the nature, timing, and extent of current audit work, including determining the extent to which testing the implementation of the corrective actions is applicable to the current audit objectives.
- To ensure that audit documentation is prepared in sufficient detail to provide a clear understanding of the nature, timing, and extent of auditing procedures performed to comply with generally accepted government auditing standards and other applicable standards and requirements; the results of the audit procedures performed and the audit evidence obtained; the conclusions reached on significant matters; and that the accounting records agree or reconcile with the audited financial statements.
- Auditors should also document, before the audit report is issued, evidence of supervisory review of the work performed that supports findings, conclusions, and recommendations contained in the audit report.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: September 11, 2025