Agenda - 06-05-2001-9b - Laserfiche WebLink

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io LGC-nos (Rev. lnrzooll CONTRACT TO AUDTT ACCOUNTS ltile 1n Triplicate. of ~ana_e County. North Catalina Governmer:tal lhdt -• Oa this 2~ ~~ day of ~y , ~QQ1 Chi. Bekaert & Holhmd. LLP Auditor _P.O.1]rawer 47. Fayetteville. Ng)s~, Carolina 28302 .._.._..,__....._,------.,,~,_._.,,..~,. Mailing Address hereinafter referred rA as the Auditor, and ~ ounty Commi~C~ig~ of Oran a Coun hereinafter referred Govertung Hoard (lovemrr~ntal [lair to as the Governmental Unit, agree as follows: ... 1. The Auditor shall audit all statements and disclosures required by generally accepted accounting principles and additional' - required legal statements and disclosures of all fiords and/or divisions of the Governmental Unit far the period beginning 7„ ulv 1 ~1 ~ and ending J~me~O ,x2001 _, 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 financial statements and an opinion will be rendered in relation to the combined 5nancial statements taken as a whole. • 2. At a minimum, the Auditor shall conduct his audit and render his report in accordance with generally accepted auditing standards. The sudiror shall perform the audit in accordance with ~pvemment Auditine Standards if required by the State Single Audit Implementation Act, as codifed in G.S. 159-34. If required by OMB Circular A-133 and the State Single Audit Implementation Act, the auditor shall perform a Single Audit 3. 7ikts contract contemplates an ungual j~od opinion being rendered. Tf financial statements are not prepared in accordance with generally accepted accounting principles (GAAP), or the statements fail to include all disclosures required by GAAP, explain that depazture from GAAP in the space below: 4, This connect contemplates an unqual~ opinion being rrndered. The audit shall include such tests of the accounting records and such other auditing procedures as are considered by the Audiror to be necessary in the circutttsrsnces.. Any limitations or r~ctrictions in scope which would lead to a qu4llJlcation should be fully explained in as attachment to this rontract. The audit will have no scope limitations except: 5. If this audit engagement is subject to the standards for audit as defined in the Government Auditi Standards. issued by the Comptroller General of the United States, then the Audimr warrants by accepting this engagement that he/she has met the requirements for a peer review and continuing education as specified in the Gov .The Auditor agrees ro provide a copy of their most rectrrt peer review report to the Governmental Uait and the Secretary of the Local Government Commission rnior to the execution of the audit contract. (See Item 20.) - 6. It is agreed that time is of the essence in this evntraet. All audits are to be performed and the report of audit submitted by ' Octo ~. 7. It is agreed that generally accepted auditing standards include a review of the Governmental Unit's system of internal control and accounting as same relates to accountability of fiords and adherence to budget and law requirements applicable thereto; that the Auditor will make a written report, which may or may not be a part of the written report of audit, to tho Governing Board setting forth his findings, together with his recommendations for improvement That written report must include all matters defined as .. "reportable conditions" in AU 325 of the w' th t mini ' 8. All local government and public authority contracts for annual or special audits, bookkeeping a other assistance necessary to prepare the Unit's records fur audit, financial statement preparation, any finance-related investigations, or any other audit-related work in the State of North Carolina require the approval of the Secretary of the Lora! Government Corntnission. Invoices for services reedered_undec these contracts shall not be trg by the Fvernrnental Unit until the invoice has been roved by the - e t 'ss on. .All invoices should be submitted in triplicate to the Secretary of the Local Government Commission. The original and one wpy will be returned ro the Auditor. Approval is not required on contracts and invoices for system improvements and similar services of anon-auditing stature. 9. In consideration of the satisfactory performance of the provisions of this agreement, the Governmental Unit shall pay ro the Auditor, upon approval by the Secretary of the Local Gvvemment Cormnission, the~ollowine_fee which includes any wst the - Auditor may incur from work paper or peer reviews or any ocher quality assurance prognvn retlttired by third parties (Federal and State grantor and oversight agencies or other organizations) as required undo the Federal and State Single Audit Acls: Year~d bookkeeping assistance - Audit - 35 0 0 _ S le Aud't r trio 1 Audi Preparatipn pf the financial sixtemeafs 5 10. After completing his audit, the Auditor shall submit to the Governing Board a written report of audit. This report shall include, at least, the financial ~*9~»+~ts of the gvvemmental unit and all of its componeet units and notes thereto prepared in accordance with generally accepted accounting principles, combining and supplementary infomiatioa requested by the client or required for full disclosure under the law, and the auditor's opinion on the tttaterial presented. The Auditor shall famish the required number of copies of the report of audit ro the Governing Board as soon as practical after the close of the acoountng period. 11. The Auditor shall the with the Local Govemmatt Commission twv copies of the report of audit, including one copy of the federal Data Collection Form, if a federel single audit is conducted. Two copies of the report of audit should be submitted if an audit is required tv be performed only under the requirements of the Stan Single Audit Implementation Act or a financial audit is .. ~ .wn.;rni to h~ n.rrn..nnA :.. o.......rle.,na ...:Fl. (:......~.,»..... 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