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9 <br /> Contract to Audit Accounts (cont.) Orange County, North Carolina <br /> Primary Governmental Unit <br /> not applicable <br /> Discretely Presented Component Units(DPCU)if applicable <br /> • For fees for services that are a combination of fixed and variable fees, are the services to be provided for <br /> the fixed portion of the fee clearly stated? Are the hourly rates or other rates clearly stated for the <br /> variable portion of the fee? (Note: See previous bullet point regarding variable fees.) <br /> • If there is to be no interim billing,please indicate N/A instead of leaving the line blank. <br /> 8. Signature Area There are now 2 Signature Pages: one for the Primary Government and one for the DPCU. <br /> Send the page(s) that are applicable to your Unit of Government. Make sure all signatures have been obtained, <br /> and properly dated. The contract must be approved by Governing Boards pursuant to G.S. 159-34(a). <br /> NEW-If this contract includes auditing a DPCU that is a Public Authority under the Local Government Budget <br /> and Fiscal Control Act it must be named in this Audit contract and the Board chairperson of the DPCU must also <br /> sign the Audit contract in the area indicated. If the DPCU has a separate Audit, a separate Audit'!contract is <br /> required for the DPCU' <br /> 9. Please place the date the Unit's Governing Board and the DPCU's governing Board(if applicable)approved the <br /> audit contract in the space provided. <br /> a. Please make sure that you provide email addresses for the audit firm and finance officer as these will be <br /> used to communicate official approval of the contract. <br /> b. Has the pre-audit certificate for the Primary Government(and the DPCU if applicable)been signed and <br /> dated by the appropriate party? <br /> c. Has the name and title of the Mayor or Chairperson of the Unit's Governing Board and the DPCU's <br /> Chairperson(if applicable)been typed or printed on the contract and has he/she signed in the correct area <br /> directly under the Auditor's signature? <br /> 10. If the Auditor is performing an audit under the yellow book or single audit rules, has year-end bookkeeping <br /> assistance been limited to those areas peiniitted under the revised GAO Independence Standards? Although not <br /> required, we encourage Governmental Units and Auditors to disclose the nature of these services in the contract <br /> or an engagement letter. Fees for these services should be shown in the space indicated on the applicable <br /> signature page(s)of the contract. <br /> 11. Has the most recently issued peer review report for the audit firm been included with the contract? This is <br /> required if the audit firm has received a new peer review report that has not yet been forwarded to us. The audit <br /> firm is only required to send the most current Peer Review report to us once—not multiple times. <br /> 12. After all the signatures have been obtained and the contract is complete,please convert the contract and all other <br /> supporting documentation to be submitted for approval into a PDF file. Peer Review Reports should be <br /> submitted in a separate PDF file. These documents should be submitted using the most current submission <br /> process which can be obtained at the NC Treasurer's web site — https://www.nctreasurer.com/slg/Pages/Audit- <br /> Foi ills-and-Resources.aspx. <br /> 13. NEW: If an audit is unable to be completed by the due,date, an Amended Contract should be completed and <br /> signed by the unit and auditor,using the new "Amended LGC-205"form(Rev. 2015). The written explanation <br /> for the delay is now included on the contract itself to complete, and must be signed by the original parties to the <br /> contract. <br /> Page 8 of 8 <br />