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RFP No. 22-02-01 <br /> <br /> <br /> <br /> 34 <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 />Cash and Investments <br /> <br />Review ledger account entries and compare cash account balances. <br /> <br />Confirm year-end cash and investment balances with depositories. <br /> <br />Obtain bank reconciliations and substantiate reconciling items. <br /> <br />Substantiate cash cut-offs and interbank transfers. <br /> <br />Determine that investment gains, losses and interest earned are properly <br />recorded. <br /> <br />Determine if investments are in accordance with City investment policy. <br /> <br />Ascertain if cash and investments are in compliance with applicable laws, <br />regulations, and restrictions. <br /> <br />Determine that cash and investments are properly disclosed in the financial <br />statements. <br />Segment 1 <br />Strategic Planning & <br />Risk Assessment <br />Review all relevant regulatory, statutory, and compliance requirements that <br />could potentially impact the City. <br /> <br />Obtain and review minutes of City Board and other relevant committees. <br /> <br />Document and perform testing of controls of areas that are deemed to have <br />financial significance. Generally, these areas would be on cash disbursements, <br />cash receipts, payroll, utility billing, journal entries and financial closing. <br /> <br />Document and evaluate information technology controls, including general <br />application controls, user controls, identify critical transaction processing <br />systems, disaster recovery plans, and physical security environment. <br /> <br />Complete information technology risk assessment and communicate to <br />management any findings or recommendations. <br /> <br />Perform preliminary analytical procedures to assist in planning the nature, timing <br />and extent of auditing procedures. <br /> <br />Identify and resolve accounting, auditing or other reporting matters with City <br />personnel. <br /> <br />Provide City personnel with detailed list of schedules and working papers to be <br />prepared by City personnel. <br />Segment 2 <br />Comprehensive Testing <br />& Analysis