Audit Services

The vendor is required to provide that audit services for five consecutive fiscal years beginning with the fiscal year ending September 30, 2025, and ending with the fiscal year ended September 30, 2029, subject to annual review and the annual availability of an appropriation for audit services by the government entity.
- Include requirements:
• The audit shall be conducted in accordance with auditing standards generally accepted in the country, promulgated by institute and in accordance with the standards applicable to financial audits contained in government auditing standards issued by the comptroller general of country and the official code of state annotated.
• Single audit is required as a part of the annual audit, the audit shall be performed in accordance with american institute of certified public accountants (AICPA), government auditing standards, the single audit act amendments of 1996, and the office of management and budget (OMB) circular a-133, audits of states, local governments, and non- profit organizations.
• To determine whether the financial statements present fairly the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information and the respective changes in financial position and cash flows, applicable, thereof [and the respective budgetary comparison for the in conformity with accounting principles generally accepted in country.
• To obtain an understanding of internal control over financial reporting sufficient to plan the audit by performing procedures to understand both the design of controls relevant to an audit of financial statements and whether they have been placed in operation, and assess control risk, in accordance with the american institute of certified public accountants statement on auditing standards (SAS) number 55, consideration of internal control in a financial statement audit, as amended by SAS number 78, consideration of internal control in a financial statement audit: an amendment to SAS no. 55; and SAS no. 94, the effect of information technology on the auditor’s consideration of internal control in a financial statement audit.
• To provide reasonable assurance that the financial statements are free of material misstatements resulting from violations of laws and regulations that have a direct and material effect on the determination of financial statement amounts in accordance with SAS number 54, illegal acts by clients, as described in SAS number 74, compliance auditing considerations in audits of governmental entities and recipients of governmental financial assistance, and to provide reasonable assurance about whether the financial statements are free of material misstatements (whether caused by error or fraud), as described in SAS number 99, consideration of fraud in a financial statement audit, and SAS number 47, audit risk and materiality in conducting an audit.
• The auditor to consider laws and regulations that are generally recognized by auditors to have a direct and material effect on the determination of financial statement amounts
• To detect and report misstatements resulting from illegal acts having a direct and material effect on the determination of financial statement amounts is the same as that for misstatements caused by error or fraud.
• The auditor aware of the possibility that illegal acts that may, in particular circumstances, be regarded as having material but indirect effects on financial statements may have occurred.
• The auditor’s attention that provides evidence concerning the existence of possible illegal acts that a material indirect effect on the financial statements, the auditor should apply audit procedures specifically directed to ascertaining whether an illegal act has occurred.
• To provide reasonable assurance of detecting material misstatements resulting from violations of provisions of contracts or grant agreements that have a direct and material effect on the determination of financial statement amounts or other financial data significant to the audit objectives
• The auditor’s attention that provides evidence concerning the existence of possible violations of provisions of contracts or grant agreements that could have a material indirect effect on the determination of financial statement amounts or other financial data significant to the audit objectives, auditors should apply audit procedures specifically directed to ascertain whether violations of provisions of contracts or grant agreements have occurred or are likely to have occurred.
• To situations or transactions that could be indicative of abuse, and if indications of abuse exist that could significantly affect the financial statement amounts or other financial data, auditors should apply audit procedures specifically directed to ascertain whether abuse has occurred and the effect on the financial statement amounts or other financial data.
• Audit documentation related to planning, conducting, and reporting on the audit should contain sufficient information to enable an experienced auditor who has had no previous connection with the audit to ascertain from the audit documentation the evidence that supports the auditors’ significant judgments and conclusions
• Audit documentation should contain support for findings, conclusions, and recommendations before auditors issue their report
• To internal control over compliance, the auditor is required to do the following:
(1) Perform procedures to obtain an understanding of internal control over federal programs that is sufficient to plan the audit to support a low assessed level of control risk for major programs,
(2) Plan the testing of internal control over major programs to support a low assessed level of control risk for the assertions relevant to the compliance requirements for each major program, and
(3) Perform tests of internal control.
- Annual budget is under $45 million.
- Contract Period/Term: 12 months
- Questions/ Notification of Interest Deadline: February 28, 2025