My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Item 21 - Award a Contract to CliftonLarsonAllen LLP for Professional Auditing Services
Clerk
>
Agenda Packets / Staff Reports
>
City Council (2004 - Present)
>
2024
>
05/07/2024
>
Item 21 - Award a Contract to CliftonLarsonAllen LLP for Professional Auditing Services
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/13/2024 12:40:40 PM
Creation date
5/2/2024 5:45:43 PM
Metadata
Fields
Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
21
Date
5/7/2024
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
123
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
• Perform compliance testing at the entity wide level related to procurement and cash management <br />requirements <br />• Perform testing to validate the status of prior year findings for those programs not selected for audit <br />• Prepare the Schedule of Findings and Questioned Costs <br />• Conduct exit conference with the City's management to review drafts of required reports: <br />o Independent Auditors' Report on Internal Control over financial reporting and on compliance and <br />other matters based on an audit of Financial Statements Performed in accordance with Government <br />Auditing Standards <br />o Independent Auditor's Report on Compliance for Each Major Federal Program, Report on Internal <br />Control Over Compliance, and Report on the Schedule of Expenditures of Federal Awards Required <br />by the Uniform Guidance <br />Throughout the single audit, we will maintain communication through periodic progress meetings with those <br />designated by the City. These meetings will be on a set schedule, but as frequently as the City determines. <br />During these meetings, we will discuss progress impediments and findings as they arise. <br />Approach to be taken in drawing audit samples for purposes of tests of <br />compliance <br />We follow the guidance of AU-C Section 530, Audit Sampling, in using statistical and nonstatistical approach. We <br />use quality control material in all our audit engagements. These forms guide our staff through a logical process <br />of assessing inherent risk, control risk, and combined audit risk, followed by an assessment of appropriate <br />sample size for testing. <br />Because our sample sizes are affected by many variables, a statement about sample sizes cannot be made in <br />absolute terms. However, with regard to sample selection, we will generally utilize representative sampling for <br />internal control and compliance tests, including those related to single audit compliance. Samples will also be <br />used in conjunction with other tests of compliance (e.g., Florida Statutes, Ordinances, etc.). <br />In general terms, sample sizes for compliance and controls testing obtained via our guidance usually fall into <br />categories of 25, 40, or 60 depending on circumstances. Where the population being tested is less than 100 <br />items, we will use the 20%, 30%, or 40% of the population depending on our control risk assessment. <br />We are usually able to cover a substantial portion of the compliance and controls testing with one sample, <br />resulting in a very efficient approach. <br />Sample size and statistical sampling <br />We follow the guidance of AU-C Section 530, Audit Sampling, in using statistical and nonstatistical approach. We <br />use quality control material in all our audit engagements. These AU-C Section 530 — "Audit Sampling" forms <br />guide our staff through a logical process of assessing inherent risk, control risk, and combined audit risk, <br />followed by an assessment of appropriate sample size for testing. <br />Sample sizes will vary depending on the nature of the testing (compliance versus substantive) and the size of the <br />population being sampled. Sampling techniques are utilized in compliance and internal control testing, as well as <br />substantive testing of certain asset and liability account balances. Sample sizes used for internal control testing <br />depend on a number of factors, namely the number of expected or actual control deviations, size of population, <br />and level of control assurance anticipated. Sample sizes can range from 20 to 90 possible selections. <br />City of Santa Ana RFP No. 24-009 Page 37 of 63 <br />
The URL can be used to link to this page
Your browser does not support the video tag.