AG 1995 02 20 - Laserfiche WebLink

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10. The conLract should be executed and submitted in triplicate to the Secretary of the Local Government Commis~on, 325 North Salisbury S~-eet, Raleigh, North Carnlina 27603-138~. 11. Upon approval, the original contract will be returned to the Governmental Unit, a copy will be forwarded ~o the AudiWr, and a copy retained by the Secretary of the Local Government Commission. The audit should not be started before the centract is approved. 12. This contract contemplates an unclua[ified opinion being rendered. Any limitations or restriction.~ in scope which would lead to a qualification should be full~l explained in an attachment to this contract. Contracts with such limitations will not be approved unless satisfactory explanation is made. 13. If an approved contract needs to be varied or changed, the change must be reduced to writing, signed by both parties, preaudited if necessary, and submitted to the Secretary of the Local Government Commission for apprnva]. No change shall be effective unless approved by the Secretary of the Local Government Commission, the Governing Board, and the Auditor. 14. A separate cen~ract should not be made for each division to be audited or report to be submitted. The scope of the audit and the fee for the audit should be clearly stated. A separate con~ract must be executed for each component unit which is a local government and for which a separate audit report is issued. 15. The auditor shall file three copies of the report of audit (four copies for councils of governments, one copy if no single audit is required) with the Secretary of the Local Government Commission when (or prior to) submitting the invoice for the services rendered. The report o[ audit, as filed with the Secretary of the Local Government Commission, becomes a matter of public record for inspection and review in the offices of the Secretary by any interested parties. These reporLs are used in the preparation of Official Statements for debt offerings as well as by municipal bond rating service~. 16. There are no special provisions except: 17. Whenever the Auditor uses an engagement letter with the client, Item 16 should be completed by referencing the engage- ment letter and attaching a copy of the engagement letter to the contract to incorporate the engagement letter into the con,'act. In case of conflict be~veen the terms of the engagement letter and the terms of this contract, the terms of this c~n~'act will control. Engagement letter terms are deemed to be void unless the cordlicting terms of this con~ract are ~ci~ically deleted in Item 21 of this contract. A Governmental Unit not having a single audit on federal and State funds would list Item 7 in Item 21 of the con,'act as being a deleted provision. An explanation must be given in Item 21 for any Governmental Unit not receiving a single audit on federal and State funds (e.g., a single audit is not required under the Federal and State Single Audit Acts and is not being per{ormed). 19. If this audit engagement is subject to the standards for audit as defined in the Government Auditing Standards, issued by the Comps'oiler General of the United States, then the Auditor warrants by accepting this engagement that h~she will meet the requiremeo~ for an external quality control review and continuing education requirements specified in the Government Auditing Standards. Copies of any written communications that are a result of an external quality control review will be made available to the Secretary of the Local Government Commission upon his request. 20. There are no other agreements between the parties hereto and no other agreements relative hereto that shall be erdorceable unles~ entered into in accordance with the procedure set out herein and approved by the Secretary of the Local Govern- merit Commission. 21. Ali of the above paragraphs are understood and shall apply to this agreement, except the following numbered paragraph~ shall bo deleted: (See Items 17 and 18.) Potter & Company, P.A., CPA's Audit firm By Cathy I~end~rson Combs. CPA, CYA Approved by the Secretary of the Local Government Commission as provided in Article 3, Chapter 159 of the General Statutes or Article :31, Part 3, Chapter I15C of the General Statutes. Covermnental U~t By (Tb~ze t)Te or print mu'ne and ~ (Signature of Mawr or Chmirpers~n of goveraJng board) This instrument has been preaudited in the manner re- quired by The Local Government Budget and Fiscal Con- trol Act or by The School Budget and Fiscal Control Act. For the Se~'eta~', Lo~al Covetmnent CommLs~on (Sigm~t ute) Date Gov~tru~ental IU~t Finance Offleer (Pleue type or print ~ne) (Signature) Date