External Audit Services

The Vendor is required to provide audit to be conducted by independent certified public accountants in accordance with generally accepted auditing standards.
- Service provider responsibilities
1. Annual audit of financial statements and independent audit report
• The service provider will audit, prepare, and issue an independent auditor’s opinion on the district’s annual comprehensive financial statements in accordance with generally accepted auditing standards.
• The auditor’s annual audit report must be issued by November 1, following the end of each fiscal year.
2. Compliance audit under the uniform guidance
• The service provider must also perform a financial and compliance audit under the single audit act of 1984.
• The OMB has issued 2 CFR part 200, subpart f, which outlines the single audit requirements.
• The district requires that this report be issued by November 1 following the end of each fiscal year.
3. Provide special audit and general consultation on financial reporting matters
• From time to time, the service provider may be requested by the district to perform special audits and research regarding proper accounting treatments and compliance concerning financial reporting matters.
4. Management letter
• The district requires a management letter addressing all noncompliance with district procedures, recommendations for realistic improvement to the internal control system, or other findings noted by the service provider during its audit.
• A draft copy of this letter should be sent to the treasurer for review and response by October 15, following the end of each fiscal year.
• The final copy will then be issued by November 1 of each fiscal year, together with the audit reports then due.
5. Report to the audit oversight committee
• Required to present the scope and general extent of its planned examination, including its engagement letter, to the audit oversight committee no later than March 22 of each fiscal year.
• The service provider shall present an annual report to the audit oversight committee no later than December 15 following the end of each fiscal year.