RFP 22-02-01 PROFESSIONAL INDEPENDENT AUDITING SERVICES

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City of Sunny Isles Beach |Request for Proposal No. 22-02-01 17 3.4 AUDITING STANDARDS To meet the requirements of this Request for Proposals, the audit shall be performed in accordance with: • Generally accepted auditing standards and Audits of State and Local Governmental Units as issued by the American Institute of Certified Public Accountants (AICPA). • Government Auditing Standards, as issued by the Comptroller General of the United States. • Circular No. A-133, Audits of State and Local Governments, Office of Management and Budget. • The provisions of the Federal Single Audit Act (as amended). • The provisions of the Florida Single Audit Act (as amended). • Rules and State of Florida Department of Banking and Finance Regulations. • Statements on Auditing Standards (SAS). • Rules of the Auditor General, State of Florida relating to Chapter 10.550. • Section 218.39, Florida Statutes, and any other applicable Florida Statutes. • Other applicable federal, state and local laws or regulations or professional guidance not specifically listed above as well as any additional requirements, which may be adopted by these organizations in the future. 3.5 ISSUED REPORTS Following the completion of the audit of the fiscal year's financial statements, the auditor shall issue: 3.5.1) A report on the fair presentation of the basic financial statements as a whole, in conformity with generally accepted accounting principles. 3.5.2) An "in relation to" report on the combining and individual fund financial statements and supporting schedules. 3.5.3) A report on internal control structure based on the auditor's understanding of the control structure and assessment of control risk. 3.5.4) A report on compliance with laws and regulations. 3.5.5) A "management letter" required by Section 10.554(g) of the rules of the Auditor General of the State of Florida. 3.5.6) Reports required by the Single Audit Act of 1996 and OMB Circular A-133 to include: i An "in relation to" report on the schedules of federal and state financial assistance.