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Item 21 - Award a Contract to CliftonLarsonAllen LLP for Professional Auditing Services
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Item 21 - Award a Contract to CliftonLarsonAllen LLP for Professional Auditing Services
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5/13/2024 12:40:40 PM
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5/2/2024 5:45:43 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
21
Date
5/7/2024
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We are sensitive and understanding of the fact that we report to those charged with governance, and our audit <br />professionals maintain objectivity and independence in issuing audit opinions. If we identify significant fraud, <br />illegal acts, or significant delays during the audit process, we will alert the audit committee immediately. <br />Information related to overall fiscal health or other concerns of your organization observed during audit testing <br />will be presented in the exit presentation and as part of the management letter. We will also help you create <br />opportunities for improvement through recommendations and suggestions for strengthening your policies, <br />accounting procedures, and processes. <br />Working remotely under special circumstances <br />CLA exists to create opportunities for our clients, our people, and our communities. For several years now we <br />have fostered a remote culture throughout the firm understanding that flexibility to work remotely enables us <br />to better serve our clients under a variety of circumstances. In fact, we had already implemented a number of <br />tools, before the Covid-19 pandemic developed, such as Assurance Information Exchange (AIE) and Microsoft® <br />Teams, which we utilize to provide seamless service to our clients. We continue to invest in technology to <br />facilitate working remotely. <br />Use of technology in the audit <br />We're reimagining the audit process through technology to <br />elevate your experience! Iff-ilSECURE, I NTERACTIVE REQUEST LISTS <br />Assurance Information Exchange (AIE) — CLA offers a <br />secure web -based application to request and obtain II�IIf <br />documents necessary to complete client engagements. This <br />application allows clients to view detailed information, <br />including due dates for items that CLA requests. <br />Additionally, the application allows clients to attach <br />electronic files and add commentary related to the document requests directly on the application. AIE is <br />provided at no additional cost, subject to the terms of the Assurance Information Exchange Portal Agreement. <br />Prosystems fx Engagement — To facilitate the audit workpaper storage and the trial balance software, we use <br />Prosystems fx Engagement. Prosystems itself houses all audit workpapers and reports. The trial balance <br />software within Prosystems allows us to group the City's accounts in any way we need to facilitate audit <br />analysis, audit workpapers, and financial statement support. To ensure an efficient and accurate review of the <br />City prepared ACFR, CLA will group the City's trial balance to match the financial statement grouping. Since the <br />grouping occurs as soon as we receive a trial balance from the City, we are able to tie out the financial <br />statements starting from day one of the audit. This removes the risk for delays in reviewing the ACFR and <br />ensures that we are analyzing the City's data by a fund view as well as an account view from the start of the <br />audit to avoid last minute questions and changes. <br />TeamMate Analytics and Expert Analyzer (TeamMate) — To analyze and understand large data sets, we use <br />TeamMate Analytics and Expert Analyzer. We customize the application by industry in order to perform the <br />most applicable procedures. This allows us to go beyond sampling and instead analyze the entire general ledger <br />for targeted anomalies. Far beyond the audit application, our six -phase process of Risk Assessment, Data <br />Analytics and Review (RADAR) can also provide actionable insights to help you understand your entity better. <br />Microsoft® Teams — Our services approach focuses on impactful interactions. We've said goodbye to the days <br />of setting up camp in our clients' conference rooms for weeks on end. We know our clients have organizations <br />to run, so our interactions have purpose. To assist with communications when we are not onsite, we utilize tools <br />City of Santa Ana RFP No. 24-009 Page 42 of 63 <br />
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