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RFP No. 22-02-01 <br /> <br /> <br /> <br /> 33 <br />www.KMCcpa.com 954.771.0896 support@KMCcpa.com <br />6550 N. Federal Highway <br />4th Floor <br />Fort Lauderdale, FL 33308 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Strategic Planning & <br />Risk Assessment <br />Comprehensive <br />Testing & Analysis <br /> <br />Engagement Planning <br /> <br />Joint meeting with members of City Management and Finance Department to <br />discuss audit approach, scheduling, and any questions or concerns. <br /> <br />Document our understanding of all financially significant laws and regulations, and <br />identify any new laws or regulations that require audit testing. <br /> <br />Make preliminary assessments of the City and its operations by identifying <br />significant accounts, critical audit areas, and relevant internal controls over <br />operations. <br /> <br />Review and update status of the prior-year audit recommendations or findings, if <br />any. <br /> <br />Obtain items for permanent file such as: debt agreements, lease agreements and <br />other significant contract agreements. <br /> <br />Identify and review all state and federal financial award agreements. <br /> <br />Assessment and Evaluation of Internal Controls <br /> <br />Perform entity-wide risk assessment by obtaining an understanding of all the <br />City’s activities and services. <br /> <br />Review major sources of information such as the City’s budgets, organization <br />charts, process and procedure manuals, and information systems. <br /> <br />ment 1 <br />Segment 2 Segment 3 <br />Report Delivery & <br />Follow Up <br />Segment 1 <br />SPECIFIC AUDIT APPROACH <br />Segment 1 <br />Strategic Planning & <br />Risk Assessment