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<br />City of Sunny Isles Beach |Request for Proposal No. 22-02-01 24 <br /> <br />December 2024, however the FY22 expenditures will likely be minimal as the City is still <br />evaluating which projects to pursue. <br /> <br />3.10 REQUIRED REPORTS <br /> <br /> Proposers will be required to provide the following information on their audit approach: <br /> <br />a. Proposed segmentation of the engagement. <br /> <br />b. Level of staff and number of hours to be assigned to each proposed segment of the <br />engagement. <br /> <br />c. Sample size and the extent to which statistical sampling is to be used in the engagement. <br /> <br />d. Extent of use of EDP software in the engagement. <br /> <br />e. Type and extent of analytical procedures to be used in the engagement. <br /> <br />f. Approach to be taken to gain and document an understanding of the City of Sunny Isles <br />Beach's internal control structure. <br /> <br />g. Approach to be taken in determining laws and regulations that will be subject to audit <br />test work. <br /> <br />h. Approach to be taken in drawing audit samples for purposes of tests of compliance. <br /> <br />i. Assistance to be provided in meeting the requirements of the "Certificate of Excellence in <br />Financial Reporting'. <br /> <br />j. Process to produce a meaningful "management letter". Include three recent <br />"management letters" developed in connection with local government audits. <br /> <br />f. The Firm must submit a copy of its two (2) most recent external quality control review <br />(peer reviews) reports performed within the last five (5) years. Every year therein, the <br />Firm shall automatically submit to the City their most recent peer-reviews. <br /> <br />3.11 SCHEDULE FOR CONDUCTING AUDITS <br /> <br />a. Interim Work <br />The Auditor shall complete interim work by August 31st. <br /> <br />b. Detailed Audit Plan <br />The Auditor shall provide the City of Sunny Isles Beach by August 31st both a detailed audit <br />plan and a list of all schedules to be prepared by the City of Sunny Isles Beach.