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I I 4. Specific Audit Approach (Continued) IWork Product and Results (Continued) Audit Approach Our approach to developing the report on our Our approach to the audit engagement I findings is particularly important given the integrates the best of traditional auditing increasing financial pressures and public techniques and a total systems concept. We scrutiny facing today's public officials. Our will consider the methods used by the City to I report will include pertinent findings, cause, process accounting information when planning effect, recommendations for improvement, and our audit, since they influence the design of the suggestions for recommendation internal control. The audit will be conducted in implementation, as appropriate. It will also three phases, which are as follows: I include written response from management. • Phase I — Risk Assessment • Phase II— Perform Audit Plan We will make suggestions to improve the City's • Phase Ill — Completion and Delivery I performance, procedures, and controls. Phase I—Risk Assessment(Interim and Any recommendations for operational Planning Stage) improvement will be reasonable and I constructive. If your management has already A thorough understanding of your City, service identified a relevant issue, our report will reflect objectives and its operating environment is this fact. To ensure full agreement with the essential for the development of an audit plan I circumstances, we will fully discuss each item and for an efficient, cost-effective audit. During with the appropriate City personnel prior to the this phase, we will meet with appropriate final exit conference. We will discuss pertinent personnel to obtain and document our issues only after preliminary communication understanding of your operations and service I with the responsible City personnel. This objectives and, at the same time, give you the policy means there will be no "surprises" in the opportunity to express your expectations with report and fosters a professional, cooperative respect to the services that we will provide. atmosphere. Our work effort will be coordinated so that there I will be minimal disruption to your staff. Because we wish to assist you in identifying and solving problems before they become During this phase we will perform the I critical, we will provide feedback on more than following activities just the items identified in the report. Our report will communicate any material weakness • Review the regulatory, statutory and or significant deficiencies or other instances of compliance requirements within which the I noncompliance and will also recommend City operates. This will include a review suggestions for improving operational of applicable laws, grant requirements, efficiency including decreasing costs, state statutes, resolutions, debt I improving management effectiveness, protecting assets, etc.information instruments, contracts, other agreements, and minutes of meetings of the City Commission. I We will immediately issue a written report for any irregularities and illegal acts or indication of • Review audit documentation of prior year illegal acts to the Director of Finance, City auditor. Manager, City Council, and the City Attorney. I I PROPOSAL GLSC&COMPANY, PLLC RFP # 15-12-01 r— certified,.en "«"..,,.,, Page 9