Agenda - 06-26-1996 - VIII-C - Laserfiche WebLink

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10. The contract should be executed and submitted is triplicate to the Bern 3 trip racy of the Local Government A Commission,325 North Salisbury Street,Raleigh,North Carolina 27603-1385. 11. Upon approval,the original contract will be returned to the Governmental Unit, a copy will be forwarded to the Auditor,and a copy retained by the Secretary of the Local Government Commission.The audit should not be started before the contract is approved. 12. This contract contemplates an unqualified opinion being rendered Any limitations or restrictions in ape which would lead to a qualification should be fully explained in an attachment to this contract. Contracts with such limitations will not be approved unless satisfactory explanation is made. 13. If an approved contract needs to be varied or changed,the change must be reduced to writing,signed by both parties, preaudited if necessary, and submitted to the Secretary of the Local Government Commission for approval.No change shall be effective unless approved by the Secretary of the Local Government Commission, the Governing Board,and the Auditor. 14. A separate contract should not be made for each division to be audited or report to be submitted.The scope of the audit and the fee for the audit should be clearly stated. A separate contract must be executed for each component unit which is a local government and for which a separate audit report is issued. 15. The Auditor shall file three copies of the report of audit(four copies for councils of governments,one copy if no single audit is required) with the Secretary of the Local Government Commission when (or prior to) submitting the invoice for the services rendered.The report of audit, as filed with the Secretary of the Local Government Commission, becomes a matter of public record for inspection and review in the offices of the Secretary by any interested parties.Any subsequent revisions to these reports must be sent to the Secretary of the Local Government Commission. These reports are used in the preparation of Official Statements for debt offerings,by municipal bond rating services,and to fulfill secondary market disclosure requirements of the Securities and Exchange Commission. 16. There are no special provisions except: See attached engagement letter 17. Whenever the Auditor uses an engagement letter with the client, Items 8 and 16 should be completed by referencing the engagement letter and attaching a copy of the engagement letter to the contract to incorporate the engagement letter into the contract.In case of conflict between the terms of the engagement letter and the terms of this contract,the terms of this contract will control.Engagement letter terms w deemed to be void unless the conflicting terms of this contract are specifically deleted in Item 21 of this contract. 18. A Governmental Unit not having a single audit an federal and Stue funds woold list Item 7 in Item 21 of the contract as being a deleted provision.An explanation must be riven in Item 21 for any Governmental Unit not recei%ing s single audit on federal and State funds(e.g.,a single audit is not required under the Federal and State Single Audit Acts and is not being performed). 19. If this audit engagement is subject to the standards for audit as defined in the Government Auditing Standards, issued by the Comptroller General of the United States,then the Auditor warrants by accepting this engagement that he/she will meet the requirements for an extornal quality control review and continuing education requirements specified in the Government Auditing Standards. The Auditor agrees to provide a copy of their most recent external quality control review report to the Governmental Unit and the Secretary of the Local Government Commission. 20. There are no other agreements between the parties hereto and no other agreements relative hereto that shall be enforceable unless entered into in accordance with the procedure set out herein and approved by the Secretary of the Local Government Commission. 21. AU of the above paragraphs are understood and shall apply to this agreement,eaoept the following numbered paragraphs shall be deleted.(See Items 17 and 18.) D l oitte f: Touche L.L•P Orange County Am"fire Gs.aamsaW Uait By K. Alan Lonbom BY Moses Carey, Jr., Chairman ie castaa .) ',plee..trye.ryamta,m..adyiltl roved M tae erhe Ideal Government This hwa%rent has been pnandited In the oved rovitide 9, tar 159 of required by The Ion) Government Budget sad Fiscal the General statwes or Article 31.Part ,Chapter Coatrd Ant or by the school Budget and Fisnl Control 115C of the General statutes. Act. Kenneth T. Chavious Far the Smw-ry,lm W osaeramew C n mimoa oerasonew Uaa Fmsaw onew O%w type er pram. ctiKs.tun) t8igaraty) Date Date