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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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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
21
Date
5/7/2024
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o Major issues discussed with management prior to retention <br />o Difficulties encountered in performing the audit <br />o Fraud or illegal acts <br />Once the final reviews of working papers and financial statements are completed, our opinion, the financial <br />statements, and management letter will be issued. <br />The City will be given a draft of any comments we propose to include in the management letter. Items not <br />considered major may be discussed verbally with management instead of in the management letter. Our <br />management letter will include items noted during our analysis of your operations. <br />We will make a formal presentation of the audit results to those charged with governance, if requested. <br />Single audit approach work plan <br />The OMB's Uniform Guidance (2 CFR Part 200) is effective for federal grants made on or after December 26, <br />2014. This affects how federal grants are managed and audited and impacts every organization that receives <br />federal assistance. Grant compliance can be a confusing topic and many of our clients rely on their federal <br />funding as a major revenue source, so it is important that they understand what these changes mean to their <br />organization. As a leader in the industry, CLA was out in front of these changes and informed our clients of how <br />to be proactive about these changes and how they could impact their entity. CLA professionals are available to <br />provide guidance and tools tailored to the City's needs, and to assist in compliance with these rules. <br />The AICPA clarified auditing standard, AU-C 935 "Compliance Audits," requires risk -based concepts to be used in <br />all compliance audits including those performed in accordance with 2 CFR Part 200. Our risk -based approach <br />incorporates this guidance. <br />We will conduct our single audit in three primary phases, as shown, below: <br />Phase 2 Phase 3 <br />Major program Final assessment <br />:esting and reporting <br />City of Santa Ana RFP No. 24-009 Page 35 of 63 <br />
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