The vendor is required to provide the services of a public accounting firm for the annual financial and compliance audit for fiscal year 2025.
- The organization-wide audit will encompass the center’s basic financial statements, comprised of the governmental activities, the business-type activities, the aggregate discretely presented component unit, each major fund, and the aggregate remaining fund information, as well as, other supplementary schedules and statistical information.
- The financial statement audit is to determine whether (1) the financial statements present fairly the financial position, results of operations, and cash flows in accordance with generally accepted accounting principles, and (2) whether laws and regulations for those transactions and events that may have a material effect on the financial statements have been complied with.
- The audit of the general purpose financial statements, the annual audit will also include obtaining an understanding of internal control structure and identifying any reportable conditions relating to the internal control systems coming to the attention of the auditors.
- Provide a definition of the term “generally accepted government auditing standards” with clear distinctions between these standards and generally accepted auditing standards for nongovernmental engagements;
- Explain the proposer’s approaches to performing an annual financial and compliance audit, including the methodology, nature, and extent of audit procedures to be performed;
- Describe how the approach to performing the audit would be affected if this were a multiyear contract;
- Provide the name of the external quality control review organization of which the proposer is a member and the proposer’s length of membership; also, state the review organization’s planned frequency of peer reviews.
- Contract Period/Term: 5 years