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<br />DETAILED PROPOSAL <br /> <br />8. Specific Audit Approach. (continued) <br /> <br />Review commission and other pertinent minutes. <br /> <br />Perform compliance audit procedures where necessary, <br /> <br />Coordinate preparation of confirmation requests. <br /> <br />Working paper review. <br /> <br />Plan the additional segments of the financial audit procedures with the City's finance personnel including a <br />list of schedules and working papers to be prepared by client personnel. <br /> <br />Seament 2: Final Work <br /> <br />The second segment will be performed by two professional staff members and will encompass approximately <br />175 hours, <br /> <br />Perform various tests and validation procedures on selected asset, liability and equity accounts in all funds <br />and for capital assets and long-term debt. <br /> <br />Examine certain revenue and expenditure accounts in all funds, <br /> <br />Send confirmations where applicable. <br />Send correspondence to attorneys as necessary. <br />Perform final compliance testing as necessary, <br />Perform final analytical procedures. <br />Obtain a management representation letter, <br />Working paper review and proposed journal entry approval. <br />Exit conference with Finance Director and Assistant Finance Director. <br /> <br />Sample sizes in the various phases of the engagement would be determined based on population sizes, <br />audit objectives and nature of transaction and\or account. We have standardized checklists and audit <br />software that assists in the selection of these samples, Additionally, we would utilize both "statistical" and <br />"non-statistical" methods to select certain test transactions. <br /> <br />We will also utilize various forms of analytical procedures to accomplish certain audit objectives, We <br />anticipate areas of concentration subject to analytical procedures to be services revenues and <br />expenditures, We retain the right to use judgment as to the extent of analytical procedures to be used <br />based mainly on the results of other testing completed, <br /> <br />In addition, we utilize personal computers and paperless audit software, where applicable, in connection <br />with our audit workpaper preparation and documentation. <br /> <br />SeQment 3: Reoorts <br /> <br />The third segment will be performed by two professional staff members and will encompass approximately <br />100 hours. <br /> <br />Preparation of the Basic Financial Statements as a part of the CAFR. <br /> <br />Preparation of Reports on Internal Controls and Compliance. <br /> <br />Preparation of Report on Compliance and Internal Control over Compliance Applicable to Each Major <br />Federal Program and State Project in accordance with OMB Circular A-133. <br />