1999 S Finance - Deloitte & Touche Audit Contract 06-01-1999 - 8m

Browse Search

CONTRACT TO AUDIT ACCOUNTS ~-~ 7 l t care. of Orange County, ~„~ ' ~" ' " 9 1999 Governmental Ui JUN RETURN THIS COPY TO THE CLERK'S OFFICE FOR THE PERMANENT AGENDA FILE On his 6 h day of __April , 19 99 Deloitte & TouchP r.r.p Auditor Post Office Box 2778, Raleigh, North Carolina 27hn~-2778 C•tailing Address hereinafter referred to as 0 oun y the Auditor, and Commissioners of Orange County ,hereinafter referred Governing board to as the Governmental Unit, agree as follows: Govemmental Unit I. The Auditor shall audit -all statcmcnts and disclosures required h)' generally accepted accounting principles and additional reyuircd IcE•ul statcmcnu :md disclosures of all funds and/or divisions of the Govcnuncntal Unit for the pcrind beginning July 1, , 19 98 ,and ending June 30, , 19s~. The combining, individual fund, and account group financial statements and schedules shall be subjected to the auditing procedures applied in the audit of the combined fittaneial statcmcnts and an opinion ~~ ill be rendered in relation to the combined financial statements taken as'a whole. 2. At a minimum. the Auditor shall conduct his audit and render his report in accordance with gcncralh• accepted auditing standards. "I he auditor shall perform the audit in accordance with Gm~crnment Auditine Standards if rcquircJ by the State Single Audit Implementation Act, as codified in G.S. 159-3d. If .rcquircd by O~tD Circular A-133 and the State Single Audit Implcmcntation Act, tltc auditor shall perform a Single Audit. 3. T/ris conrrncr contemplates nn unynolified opinion being rendered. If financial statements arc not prepared in accordance with centrally accepted accrnnuinc principles (GAAP). or the statcmcnts fail to include all disclosures rcquircd by GAAI', csplain th:u Jeparwrc liom GAAI' in tht >pucc hduty: ~ 7hrs c-untruct contemplates an urryuabjcd opinion being rendered. The audit shall include such tests of the accounting records and such other auditing procedures as are eonsidtrcd by the Auditor to he nccessan• in the circumstances...lnr limitations or rc~trictions in scope trlrich uordd lend ro n yualrficonon should be jdh• e.rplairted in mr artncluuen! ro dris conb•act. The audit ~~ ill have no scope limitations e~cepC 5. If this audit engagement is suhjtct to the standards for audit as defined in the Gm•crnmcnt Auditine Standards. issued by the Comptroller Gtntral of the llnittd States. then the Auditor ~uurants h)' accepting this rngagentcnt that ht/she has met the reyuircnttnts for a pttr rc~ ie~~ and continuing education as sptcifitd in the Goccnunent Auditine Standards. The Auditor agrees to provide a cop) ul'their must recent peer review rtpurt to the Govcrnmcntal Unit and tht Stcreurq• of tht Local Guctrnment Cummis>iun riot u. tht tnetutiun ul'the ;urdit cuntracl. (Set Item 2U.) G. It is a_ree.l that time is of tht tsstntt in this contract. All audits arc to he pcrl'onned and tht report of audit suhmitted h)• October 31, , {q 99• 7. It is a rred that generally acctpttd auditine standards include a review of the Govcrnmcntal Unit's s) stem of internal control and accounting as same rclatts to accountahiliq of funds and adhtrcnec to budget and law requirements applicable lhcrcto: shat the Auditor will make a written report, which may or may not ht a pan of the written report of audit, to the Governing Qoard setting funh hi: lindings, utgtthcr with his recmnnundations for improvement. That written report must include all matters dclincd as "reportahlt conditions" in AU 325 of the AICPA Professional Standards. The Auditor shall tilt a com• of that tenon with the ~ecrctan• of the Local Government Commission. S. All local govcrttntcnt and public authorit)• contracts for annual or special audits, bookkeeping or other assistance necessary to prepare the Unit's records for audit, financial statement preparation, an)• finance-related investigations, or any other audit-related work in the State of Konh Carolina require the approval of the Sccrelaq• of the Local Govcnuncnt Commission. Invoices for stn ices rendered under_these contracts shall not be paid by the Gm•ernmental Unit until the im•oice has been annroved by the Stcrctan of the Local Govemmcnt Commission. (This also includes anv nroeress billines.) All invoices should be submitted in triplicate to the Sccrctar)• of the Local Government Commission. The original and one copy will be returned to the Auditor. :\pproval is nut rcquircd on contracts and invoices for system improvements and similar services of anon-auditing nature. H. In consideration of the sa~islactoq pcrfonnance of the provisions of this agreement, the Governmental Unit shall pa) to the :\uditor, upon approval by the Secretan• of the Local Government Commission, the followine fee which includes any cost the Auditor may incur from work paper or pert reviews or any other quality assurance program rcquircd by third parties (Faleral and Stag agencies or other organizations) as Yquircd under the Federal and State Single Audit Acts: l'car-end bookkec{tingassistance- N/A Audit- Sc` .,~~,..ti,,,-~ s+,.s.nir~+--,.i--~-'-~-..r ~ $60.300_ 7 7 Preparation of the financial statcmcnts -- - - - - - - N/A (Crnuinucd on Reverse)