Audit Services

The Vendor is required to provide perform an annual independent financial audit of the board’s fiscal year ending June 30 in accordance with state statutes and applicable professional standards.
- Determine whether the Board’s financial statements are free of material misstatement, whether due to fraud or error.
- Evaluate the design and operating effectiveness of internal controls over:
•    Cash receipts and disbursements
•    Payroll processing
•    Licensing revenues and trust funds
•    Purchasing, contracting, and travel expenditures
- Assess compliance with:
•    GASB pronouncements adopted by the Board
•    State budgetary and procurement requirements
•    Record-retention provisions and grant agreements
•    Provide recommendations that strengthen controls and improve operational efficiency.
- Conduct entrance conference with Executive Director, SecretaryTreasurer, CPA, and Bookkeeper
- Obtain and review prior-year audit workpapers and management letter
- Perform walkthroughs and test samples for key control activities identified in the Board’s accounting policy manual
- Test a statistically valid sample of disbursements (checks, ACH, wires) for proper authorization, support, account coding, and Board approval.
- Verify payroll amounts against State payroll system registers and Board-approved pay rates.
- Inspect fixed-asset additions, disposals, and calculate depreciation accuracy.