AG 1999 02 15 - Laserfiche WebLink

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CONTRACT TO AUDIT ACCOUNTS of, CABARRUS COUNTY On thi~ 22ND day of JANUARY 114 NORTH CHURCH STREET, MONROE, NC 28112 19 99 POTTER & COMPANY, P.A. Mailing Address the Auditor, and THE BOARD of · Governing Boa~d to as the Governmental Unit, agree as follows: CABARRUS COUNTY , hereinafter referred to as , hereinafter referred TTte Auditor shall audit all statements and disclosures required by generally accepted accounting principles and additional required legal statements and disclosures of all funds and/or divisions of the Governmental Unit for the period beginning JULY 1 , 19 98 . and ending JUNE 30 . 19 99. The combining, individual fund, and account group financial statements and schedules shall bo subjected to the auditing procedures applied in the audit of the combined financial statements and en opinion will be rendered in relation to the combined financial statements taken es s whole. At a minimum, the Auditor shall conduct his audit and render his report in accordance with generally accepted auditing standards. The auditor shall perform the audit in accordance with Government Auditine Standards if required by the State Single Audit Implementation Act, as codified in G.S. 159-34. If required by OMB Circular A-133 and tho State Single Audit Implementation Act. the auditor shall perform a Single Audit, This contracl contemplates an unqualified opinion being rendered. If financial sLiltemenLs uru soL propurud m accordance with generally accepted accounting principles (GAAP), or the statements fail to include all disclosures required by GAAP. explain that departure from GAAP in the sp~ce below: This conIracl contemplates an unqualified opinion being rendered. The audit shall include such tests of the accounting records and such other auditing procedures as are considered by the Auditor to be necessary in the circumstances.. Any limilalions or reztrlc~ion-s in scope lvhidl would lead to a qualification should be fully explained in an attachmenI to Ibis contract 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 ~.uditing .c;tatldards. issued by the Comptroller General of the United States. then tho .Auditor warrants by accepting th~s engagement that he/she bas met the requirements for a peer review and continuing education es specified in the Government Auditing Standards. The Auditor agrees to provide e copy of their most recent peer review report to the Governmental Unit and the Secretary of the Local Government Commission prior to the execution of the audit contract. (Sec Item 20.) 6. It is agreed that time is of thc essence in this contract. All audits are to be performed and the report of audit submitted by OCTOBER 31, ,19 7. ]t 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 funds and adherence to budget end law requirements applicable thereto; that the Auditor will ma~e e written report., which ma)' or may not be a part of the written, report of audit, to the Governing ~oard setting forth his findings, together with his recommendations for improvement. That written report must include ali matters defined as 'reportable conditions" in AU 325 of the A[(~P,A Profes~ior~al Standards. The Auditor shall tile a copy of that report with the Secretary of the Local Government Commission. 8. All local government and public authority contracts for annu,] or special audits, bookkeeping or other roluted investigations, or any othnr uudit-reluLod work :n the State of North Carolinu r*ulu:ru tho upprovul of the Secretary of the Local Government Commission. Invoices ~'or services rendered uoder ~hesc contracts shall not be naid by the Governmental Unit until the invoice has been aoor~ve4 ~y the~ Seergtar~. of the Local Government Commission. (This also includes any nroeress billines3 All invoices should be submitted in triplicate to the Secretary of the Local Government Commission. The original and one copy will be returned to the Auditor. Approval ia not required on contracts and invoices for system improvements and similar services of e non-auditing nature. 9. In consideration of the satisfactory performance of the provisions o~' this ugreement, the Governmental Unit shall pay to the Auditor, upon approval by the Secretary of the Local Government Commission. the foe which includes any cost the Auditor may incur from work paper or peer reviews or any other quality ussuranco program required by third parties (Federal und h:tato agencies or other organizations) us required under tho Federal and State Single Audit Acts: ~25,000 (Continued on Reverse)