Annual Financial Audit Services

The Vendor is required to provide the auditor will be required to examine the financial records, systems and controls of the river in accordance with state generally accepted auditing standards and the provisions of the local government act and community charter, and to then provide written audit reports with an audit opinion on the consolidated financial statements as prepared by village staff for the river.
- The Auditors should remain alert during the engagement for:
• A lack of accountability in the use and management of public monies;
• Instances of waste or misuse of public resources;
• A lack of probity in behavior; or
• A lack of compliance with financial and other legislation.
- The Auditor will ensure all new or changed reporting requirements and auditing standards are communicated to the River, in writing, to ensure that financial statements and notes prepared by management are in compliance with current reporting requirements and auditing standards.
- The Auditor will respond to and discuss with the Village’s staff accounting, auditing, tax and other issues arising throughout the year. Inquiries, if any, are infrequent, usually brief and specific in nature, and may require a written confirmation. It is expected that such inquiries would be included in the fee schedule provided and would not incur additional billing or that Village staff would be advised of any additional charges prior to services being provided.
- The Auditor shall provide appropriate beneficial suggestions to improve areas of concern.
- The Auditor shall communicate in a post-audit report and in the form of a Management Letter to the Village Council any reportable conditions, as determined by the Auditor, found during the audit.