Res 1992-081 - Laserfiche WebLink

Home Browse Search

1.2.3 Review CITY's interim financial reports and CITY staff qualifications. 1.2.4 Evaluate computer controls, general controls and applications controls. 1.2.5 Document, review and walk through major systems, e.g. billings and receivables, purchasing, capital projects, cash and investments, debt comp~iance and payrolls. 1.2.6 Perform audit risk assessments. 1.2.7 Meet with CITY staff to finalize the audit plan, including schedules to be prepared by the CITY, to plan CITY staff's assistance, and to consider the AUDITOR's plan for testing records and procedures using statistical sampling and computer auditing where appropriate, the method for evaluating internal control and the audit procedures to be utilized prior to performing detail audit work. 1.2.8 Prepare audit program and final time budgets. 1.3 AUDIT PHASE 1.3.1 The AUDITOR shall perform a detailed interim and final audit of the following: (1) The CITY's general purpose (combined) financial statements as of and for the fiscal year ending September 30, 1992. Upon completion of this Audit an audit report which conforms with the current AICPA standards shall be issued to the CITY. (2) Federal financial assistance programs for the fiscal year ending September 30, 1992 in accordance with the Single Audit Act of 1984 and OMB Circular A-128, "Audits of State and Local Governments." This audit shall result in the issuance to the CITY, by the AUDITOR, of all reports on the schedule of federal financial assistance, internal control structure, and compliance with laws and regulations as required by the Act and Circular A-128. These reports shall conform to pronouncements of the AICPA. 1.3.2 In performing the interim audit the AUDITOR shall: (1) Perform tests of relevant controls, e.g. billings and receivables, purchasing, capital projects, payrolls, cash receipts, and disbursements, compliance with laws -2-