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Agenda - 05-19-20; 8-d - Audit Contract Renewal Extension for Mauldin & Jenkins, LLC
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Agenda - 05-19-20; 8-d - Audit Contract Renewal Extension for Mauldin & Jenkins, LLC
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BOCC
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5/19/2020
Meeting Type
Business
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Agenda
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8-d
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Agenda 05-19-20 Virtual Business Meeting
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\Board of County Commissioners\BOCC Agendas\2020's\2020\Agenda - 05-19-20 Virtual Business Meeting
Minutes 05-19-2020 Virtual Business Meeting
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\Board of County Commissioners\Minutes - Approved\2020's\2020
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6 <br /> LGC-205 CONTRACT TO AUDIT ACCOUNTS Rev. 9/2019 <br /> Secretary of the LGC, this contract may be modified or amended to include the increased time, compensation, <br /> or both as may be agreed upon by the Governing Board and the Auditor. <br /> 16. If an approved contract needs to be modified or amended for any reason, the change shall be made in <br /> writing, on the Amended LGC-205 contract form and pre-audited if the change includes a change in audit fee <br /> (pre-audit requirement does not apply to charter schools or hospitals). This amended contract shall be <br /> completed in full, including a written explanation of the change, signed and dated by all original parties to the <br /> contract. It shall then be submitted to the Secretary of the LGC for approval. No change to the audit contract <br /> shall be effective unless approved by the Secretary of the LGC, the Governing Board, and the Auditor. <br /> 17. A copy of the engagement letter, issued by the Auditor and signed by both the Auditor and the <br /> Governmental Unit(s), shall be attached to this contract, and except for fees, work, and terms not related to audit <br /> services, shall be incorporated by reference as if fully set forth herein as part of this contract. In case of conflict <br /> between the terms of the engagement letter and the terms of this contract, the terms of this contract shall take <br /> precedence. Engagement letter terms that conflict with the contract are deemed to be void unless the conflicting <br /> terms of this contract are specifically deleted in Item 28 of this contract. Engagement letters containing <br /> indemnification clauses shall not be accepted by LGC Staff. <br /> see attached <br /> 18. Special provisions should be limited. Please list any special provisions in an attachment engagement letter <br /> 19. A separate contract should not be made for each division to be audited or report to be submitted. If a <br /> DPCU is subject to the audit requirements detailed in the Local Government Budget and Fiscal Control Act and <br /> a separate audit report is issued, a separate audit contract is required. If a separate report is not to be issued <br /> and the DPCU is included in the primary government audit, the DPCU shall be named along with the parent <br /> government on this audit contract. DPCU Board approval date, signatures from the DPCU Board chairman and <br /> finance officer also shall be included on this contract. <br /> 20. The contract shall be executed, pre-audited (pre-audit requirement does not apply to charter schools <br /> or hospitals), and physically signed by all parties including Governmental Unit(s) and the Auditor, then <br /> submitted in PDF format to the Secretary of the LGC. <br /> 21. The contract is not valid until it is approved by the Secretary of the LGC. The staff of the LGC shall notify <br /> the Governmental Unit and Auditor of contract approval by email. The audit should not be started before the <br /> contract is approved. <br /> 22. Retention of Client Records: Auditors are subject to the NC State Board of CPA Examiners' Retention of <br /> Client Records Rule 21 NCAC 08N .0305 as it relates to the provision of audit and other attest services, as well <br /> as non-attest services. Clients and former clients should be familiar with the requirements of this rule prior to <br /> requesting the return of records. <br /> 23. This contract may be terminated at any time by mutual consent and agreement of the Governmental <br /> Unit(s) and the Auditor, provided that (a) the consent to terminate is in writing and signed by both parties, (b) the <br /> parties have agreed on the fee amount which shall be paid to the Auditor (if applicable), and (c) no termination <br /> shall be effective until approved in writing by the Secretary of the LGC. <br /> 24. The Governmental Unit's (Units') failure or forbearance to enforce, or waiver of, any right or an event of <br /> breach or default on one occasion or instance shall not constitute the waiver of such right, breach or default on <br /> any subsequent occasion or instance. <br /> 25. There are no other agreements between the parties hereto and no other agreements relative hereto that <br /> shall be enforceable unless entered into in accordance with the procedure set out herein and approved by the <br /> Secretary of the LGC. <br /> Page 4 <br />
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