Audit Services

The Vendor is required to provide professional audit services for the agency's financial governmental activities, the business-type activities, each major fund, the aggregate remaining fund information, and the budgetary comparisons of the general fund and major special revenue fund of county.
- Financial audit
•    Examination of the agency's financial statements including the government-wide financial statements, fund financial statements, and notes to the financial statements to express an opinion on whether the financial statements present fairly, in all material respects, the financial position of the agency and the results of its operations and cash flows in conformity with generally accepted accounting principles (GAAP) as established by the governmental accounting standards board (GASB). 
•    Review and testing of the agency's system of internal controls over financial reporting to identify any material weaknesses or significant deficiencies and to assess compliance with applicable laws, regulations, contracts, and grant agreements. 
•    Evaluation of the agency's compliance with budgetary requirements and applicable legal and contractual provisions. 
•    Assessment of the agency's accounting policies, procedures, and practices, including recommendations for improvements where appropriate. 
•    Testing of account balances, transactions, and disclosures using appropriate audit sampling techniques and professional judgment to obtain sufficient appropriate audit evidence. 
•    Confirmation of cash balances, investments, receivables, payables, and other material account balances with third parties as deemed necessary. 
•    Physical observation and testing of capital assets, inventory, and other tangible assets as appropriate. 
•    Analysis of debt obligations, lease agreements, pension liabilities, other post-employment benefits (OPEB), and other long-term obligations. 
•    Review of subsequent events occurring after the fiscal year-end that may require disclosure or adjustment to the financial statements.
- Single audit (federal compliance audit)
•    Identification and testing of major federal programs based on risk assessment procedures and the type A and type B program determination process outlined in the uniform guidance. 
•    Testing of compliance requirements for each major federal program including activities allowed or unhallowed, allowable costs and cost principles, cash management, eligibility, equipment and real property management, matching and level of effort and earmarking, period of performance, procurement, reporting, sub recipient monitoring, and special tests and provisions as applicable to each program. 
•    Evaluation of internal controls over compliance for each major federal program. 
•    Preparation of the schedule of expenditures of federal awards (SEFA) showing total federal awards expended for each individual federal program and the catalog of federal domestic assistance (CFDA) number or assistance listing number. 
•    Issuance of the required single audit reports including the independent auditor's report on compliance for each major federal program and report on internal control over compliance, and the schedule of findings and questioned costs. 
•    Preparation and submission of the single audit reporting package to the federal audit clearinghouse as required by the uniform guidance.
- State compliance audit
•    Testing of compliance with state laws and regulations governing local government financial operations, including budget laws, tax levy limitations, debt limitations, and fund balance requirements.
•    Review of compliance with state grant programs and state-funded initiatives. 
•    Examination of compliance with state-specific reporting requirements and filing deadlines. 
•    Any additional procedures required by state audit guides or the state auditor's office.
- Interim and year-end fieldwork
•    Perform year-end fieldwork beginning no later than six (6) weeks after the close of the fiscal year to ensure timely completion of the audit. 
•    The contractor shall coordinate all fieldwork schedules with the agency's finance director to minimize disruption to agency operations. 
•    Provide the agency with a detailed list of schedules, documents, and information required for the audit at least four (4) weeks prior to the commencement of fieldwork.