Forensic Accounting, Financial Invest Services

The Vendor is required to provide forensic accounting, financial invest services to retain an independent certified public accounting (CPA) firm with specialized expertise in governmental forensic accounting, fraud examination, financial investigations, and forensic auditing to conduct a forensic financial audit of the office occurring from January 1, 2020, through the date of completion of the audit engagement.
- Requirement:
1. Planning and risk assessment
• Meet with county representatives and designated personnel.
• Review available financial records and supporting documentation.
• Develop an audit work plan and risk assessment.
• Identify areas requiring expanded forensic review.
2. Access to records and information
• Granted reasonable access to all records, documents, financial systems, accounting records, contracts, grant files, bank records, purchasing records, payroll records, personnel records, electronic data, and other information deemed necessary to perform the forensic audit engagement, subject to applicable federal and state laws governing confidentiality, privilege, and protected information.
• Coordinate with county representatives to obtain access to records maintained by the office and any other county departments or offices possessing information relevant to the objectives of the engagement.
3. Financial transactions review
• Revenues and collections.
• Expenditures and disbursements.
• Accounts payable activities.
• Vendor activity.
• Credit card transactions.
• Payroll-related activities.
• Bank account activity and reconciliations.
4. Internal controls evaluation
• Cash handling and deposits.
• Financial approvals and authorizations.
• Procurement activities.
• Payroll approvals & processing.
• Financial reporting.
• Separation of duties.
• Access to financial systems.
5. Payroll review
• Employee compensation payments.
• Overtime and compensatory time payments.
• Payroll adjustments and manual entries.
• Leave balances and related payroll transactions.
• Payroll approvals and supporting documentation.
• Employee authorization and eligibility for compensation payments.
• Identification of potential payroll irregularities, including unauthorized payments, duplicate payments, improper adjustments, or other indicators of payroll fraud.
6. Restricted funds and special accounts
• Jail commissary funds.
• Jail inmate trust accounts.
• Federal and state asset forfeiture funds.
• Law enforcement grant funds.
• Donation accounts, if any.
• Other special-purpose or restricted accounts.