Orange County NC Website
Browse       Search
Contract to Audit Accounts (cont.) Orange County <br /> Primary Government Unit <br /> not applicable <br /> Discretely Presented Component Unit(DPCU)if applicable <br /> FEES - PRIMARY GOVERNMENT <br /> AUDIT: $ 953500 <br /> WRITING FINANCIAL STATEMENTS: $ <br /> ALL OTHER NON-ATTEST SERVICES: $ <br /> For all non-attest services the Auditor shall adhere to the independence rules of the AICPA Professional Code of Conduct <br /> and Governmental Auditing Standards(as applicable). Bookkeeping and other non-attest services necessary to perform <br /> the audit shall be included under this contract. However,bookkeeping assistance shall be limited to the extent that the <br /> Auditor is not auditing his or her own work or making management decisions. The Governmental Unit shall designate an <br /> individual with the suitable skills,knowledge, and/or experience necessary to oversee the services and accept <br /> responsibility for the results of the services. Financial statement preparation assistance shall be deemed a"significant <br /> threat"requiring the Auditor to apply safeguards sufficient to reduce the threat to an acceptable level. The Auditor shall <br /> maintain written documentation of his or her compliance with these standards in the audit work papers. <br /> Prior to submission of the completed audited financial report, applicable compliance reports and amended contract(if <br /> required)the Auditor may submit invoices for approval for services rendered, not to exceed 75%of the total of the stated <br /> fees above. If the current contracted fee is not fixed in total, invoices for services rendered may be approved for up to <br /> 75% of the prior year audit fee. <br /> The 75% cap for interim invoice approval for this audit contract is S 625 <br /> **NA if there is to be no interim billing <br /> FEES—DPCU (IF APPLICABLE) <br /> AUDIT: $ - <br /> WRITING FINANCIAL STATEMENTS: $ <br /> ALL OTHER NON-ATTEST SERVICES: $ <br /> For all non-attest services the Auditor shall adhere to the independence rules of the AICPA Professional Code of Conduct <br /> and Governmental Auditing Standards(as applicable). Bookkeeping and other non-attest services necessary to perform <br /> the audit shall be included under this contract. However,bookkeeping assistance shall be limited to the extent that the <br /> Auditor is not auditing his or her own work or malting management decisions. The Governmental Unit shall designate an <br /> individual with the suitable shills, knowledge, and/or experience necessary to oversee the services and accept <br /> responsibility for the results of the services. Financial statement preparation assistance shall be deemed a"significant <br /> threat"requiring the Auditor to apply safeguards sufficient to reduce the threat to an acceptable level. The Auditor shall <br /> maintain written documentation of his or her compliance with these standards in the audit work papers. <br /> Prior to submission of the completed audited financial report, applicable compliance reports and amended contract(if <br /> required)the Auditor may submit invoices for approval for services rendered, not to exceed 75% of the total of the stated <br /> fees above. If the current contracted fee is not fixed in total,invoices for services rendered may be approved for up to <br /> 75% of the prior year audit fee. <br /> The 75% cap for interim invoice approval for this audit contract is $ <br /> **NA if there is to be no interim billing <br /> Page 5 of 9 <br />