Auditing Services

The Vendor is required to provide audit services to agency for the fiscal year ending September 30, 2026, with the option to renew for three additional one-year periods (2027, 2028, 2029).
- The audits shall be performed in accordance with:
•    Generally accepted accounting principles (GAAP).
•    Government auditing standards, issued by the comptroller general of the country.
•    Governmental accounting standards board (GASB) and financial accounting standards board (FASB).
•    State statutes and agency policies and procedures.
•    Auditing standards and procedures recommended in the institute public accountants’ industry audit and accounting guide “audits of state and local governments” as amended.
•    The rules of the auditor general of the state.
- When applicable, the selected auditor will provide a cost estimate to complete a “Single Audit,” prior to the start of the regular fiscal year audit.
- Audit report shall contain at a minimum, the following:
•    Index.
•    Letter of transmittal
•    Independent auditor’s report
•    Management’s discussion and analysis
•    Basic financial statements
•    Notes to the financial statements
•    Supplemental information to include detailed financial information for each division operated by the agency.
•    Statistical section
•    Independent auditors’ report on compliance and on internal control over financial reporting based on an audit of financial statements performed in accordance with government auditing standards.
•    Management letter
•    Independent accountant’s Report
- The information provided in these reports/meetings should be sufficiently detailed to provide assurance that the audit is on schedule, noting achievements and problems, which have potential effect on the schedule.
- Auditor shall submit progress reports to or hold periodic meetings with the agency General Manager or his designee.
- Audit working papers shall be retained by the selected auditor for five years.