Laserfiche WebLink
The auditor shall also be responsible for perForming certain limited <br />procedures involving required supplementary information required by the <br />Governmental Accounting Standards Board as mandated by generally <br />accepted auditing standards. <br />The auditor is not required to audit the schedule of expenditures of federal <br />awards. However, the auditor is to provide an "in relation-to" report on that <br />schedule based on the auditing procedures applied during the audit of the <br />financial statements. <br />From time to time, the City may request the auditor to perForm other audits <br />and reviews not specifically provided for under this section. If such a <br />request is made, the auditor shall submit, at the City's request, a separate <br />proposal for completing the engagement, along with a proposed fee <br />schedule. The City reserves the right to contract any additional audits or <br />reviews with whomever they choose. <br />C. AUDITING STANDARDS TO BE FOLLOWED <br />To meet the requirements of the request for proposals, the audit shall be <br />perFormed in accordance with: <br />Generally accepted auditing standards (GAAS) as set forth by the <br />American Institute of Certified Public Accountants, the standards for <br />financial audits set forth in the U.S. General Accounting Office's (GAO) <br />Government Auditing Standards(1994), the provisions of the Single Audit <br />Act of 1984 (as amended in 1996) and the provisions of U.S. Office of <br />Management and Budget (OMB) Circular A-133, Audits of States, Local <br />Governments and Non-Profit Organizations, Audits of State and Local <br />Governments as well as the following additional requirements: <br />examination for compliance with procedures established by City Charter, <br />City Ordinance or, where applicable, State and Federal Laws or <br />regulations, including the Texas Code of Crimina/ Procedures. <br />D. REPORTS TO BE ISSUED <br />Following the completion of the audit of the fiscal year's financial <br />statements the auditor shall issue: <br />1. A report on the fair presentation of the financial statements in <br />conformity with generally accepted accounting principles including <br />an opinion of the fair presentation of the supplementary schedule of <br />expenditures of federal awards in relation to the audited financial <br />statements. <br />2. If necessary, a report on compliance and internal control over <br />compliance applicable to each major federal program. <br />13 <br />