RES 181 Draft 01 1996-1998 - Laserfiche WebLink

Home

a The Contract Auditor shall conduct a financial audit of all fund types and groups in the County and in its Department of Water Supply for each of the four consecutive fiscal years commencing with the fiscal year ending June 30, 1998 through June 30, 2001 (July 1, 1997 to June 30, 2001). Each financial audit shall include the following: a. Except as otherwise provided herein, a limited general audit of the financial transactions and accounting records of the County funds and account groups and of operations for which the County is responsible. The term "limited general audit" means a test audit of the receipt and expenditures for the period(s) specified; the Contract Auditor is not expected to verify every transaction and record for the audited fiscal year. "Limited general audit" shall include tests of the financial data to provide the Contract Auditor with a basis to report on the fairness of the financial statements, on the legality and propriety of the expenditures and other disbursements, and on the accounting of all revenues, receipts and receivables. b. An examination of the existing systems and procedures of accounting, reporting, operational, and internal controls of the County and of all operations for which the County is responsible. The evaluation of the system of internal control shall include an assessment of the extent to which the system can be relied upon to ensure accurate information, to ensure compliance with laws and regulations, to provide for efficient and effective operations, and to ensure integrity in the County's receipt and expenditure of public funds. The Contract Auditor shall identify the deficiencies and weaknesses in the systems and procedure, and make appropriate recommendations for improvements, including, but not limited to, the management information system and the accounting and operating procedures. c. An examination to enable the Contract Auditor to opine on all the objectives specified in Section II.A. above. d. The Contract Auditor is not required to audit the supporting schedules contained in the comprehensive annual financial report. However, the Contract Auditor is to provide an "in-relation-to" opinion on the supporting schedules based on the auditing procedures applied during the audit. Further, the Contract Auditor is not required to audit the statistical section of the report. -4-