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PROPOSAL FOR CITY OF SUNNY ISLES BEACH, FLORIDA RFP NO. 22-02-01 34 COMMUNICATION AND PLANNING Our firm believes that open and honest communication is a hallmark of strong client service, and without open and honest dialogue, the auditor/client relationship cannot properly function. During the planning phase of the audit, Marcum will schedule a “Planning Kick- Off Meeting” with your organization’s management. This meeting allows our team to meet in person with management and revisit audit time frames and due dates, as well as determine the level of assistance we need from your staff and management team. INFORMATION TECHNOLOGY AUDIT TECHNIQUES In accordance with Professional Auditing Standards, we are required to gain an understanding of the procedures, both automated and manual, by which transactions are initiated, recorded, processed and reported, from their occurrence to their inclusion in the financial statements. During the planning stage of our audit, we evaluate the effect information technology (IT) will have in performing our audit procedures. This evaluation includes obtaining an understanding (generally through observations and inquiries of IT personnel) of internal controls and identifying those controls that are automated. Our approach includes review of IT general controls as follows: Security—Physical and Access Controls Change Management for Systems and Configurations Application/System Development and Customization IT Risk Management Data Backup and Recovery/Business Continuity Plans Electronic Banking Wire and ACH Security Segregation of Duties within Systems and IT function When key internal controls are automated, we use our IT specialist to perform a detailed review of those automated controls. The assigned IT Audit Director, José Antigua, will then communicate to the audit engagement team as to whether such controls are working as prescribed by management. With this information, the audit engagement team determines the extent of their audit procedures. In certain situations where there is significant accounting data processed electronically, we use several state-of-the-art software programs (IDEA and Team Mate Analysis) to extract and summarize computerized financial data files. These programs provides an efficient way for us to extract and test computerized accounting information, enabling us to audit through the computer, rather than around the computer. Some of the uses of this program are: Retrieving aged receivables information Extracting credit balances in accounts receivable reports