Independent Auditing Services

The Vendor is required to provide the annual audit and compliance with applicable state and federal reporting requirements are material requirements of this procurement.
- The staffing capacity, municipal audit experience, and internal scheduling controls necessary to complete the Town’s audit, management letter, required state submissions, and any applicable federal reporting within the required reporting timelines.
- Most of the Town’s financial records have been converted to the Munis automated system. Cash, accounts receivable, and interdepartmental reconciliations are performed by the Town monthly and at year end.
- Required services consist of an examination of the Town’s financial records including but not limited to all fund activity including cash receipts and disbursements, accounts receivables, along with the Treasurer’s and Collector’s cash management program. This examination is to be performed in accordance with generally accepted auditing standards applicable to financial audits contained in the most recent Government Auditing Standards, issued by the Comptroller General of the country. This financial audit proposal shall cover fiscal years 2026, 2027, and 2028.
- As part of audit planning, risk assessment, and internal control evaluation, the selected firm shall conduct and document walkthroughs of one or more mutually agreed upon Town departments or significant transaction cycles each year. Selection of the department or transaction cycle shall be informed by risk, materiality, prior findings, and Town priorities, and shall include practical recommendations for strengthening internal controls where appropriate.
- Prior to commencement of the annual audit, a schedule of information needed from each department is to be submitted to the Finance Director for distribution to involved departments.