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0 • • ® • City of • / it�____.- _ • • • Florida Single Audit Act, (Section 215.97, Florida Regular communication will be ongoing with City • Statutes) and Chapter 270-1, Rules of the Executive personnel, allowing for timely knowledge of matters as • Office of the Governor they arise. When we learn of matters the City may not be • All other applicable provisions of rules, regulations, aware of,we will be active in conveying relevant information. • statutes or orders which may pertain to the We understand the audit and accounting • engagement requirements affecting your audit. As with other issues that may arise, we will work with Management through- • Monitoring and Communication out the year to achieve the appropriate resolution. • The Firm will report the following information to the ® City Commission. New Pronouncement Impacting the City Annually Beginning with Fiscal Year Ended September • • The auditor's responsibility under generally 30, 2015: • accepted auditing standards and Government For fiscal year ended September 30, 2015 the City Auditing Standards will be implementing Governmental Accounting Standards • • Significant accounting policies Board (GASB) Statement No. 68-Accounting and Financial • • Management's judgments and accounting Reporting for Pensions, amendment of GASB Statement estimates No. 27. As a result of changes in professional auditing • • Significant audit adjustments; uncorrected standards for cost-sharing employer plans, the City's • misstatements auditor will be required to perform the following for the • Other information in documents containing audited • financial statements City's participation in the Florida Retirement System • • Disagreements with management (FRS) which they do not audit. • • Management consultation with other accountants Evaluate and confirm that the FRS auditor's report • • Major issues discussed with management prior and accompanying schedule are adequate and ® to retention appropriate which includes reviewing the information • Difficulties encountered in performing the audit for any opinion modifications. • • Evaluate whether the FRS auditor has the necessary • Marcum has not been engaged within the last five competence and independence.• Perform census data testing which includes: • (5) years by the City of Sunny Isles Beach to perform any services. • Review actuarial certification letter for exceptions • related to census data. IDENTIFICATION OF ANTICIPATED • Test reconciliation of aggregate census data • POTENTIAL AUDIT PROBLEMS to census data file. • Marcum is proud of its recognition as a technical • Agree underlying information to payroll and • resource for accounting and auditing standards. We personnel records. • keep abreast of emerging technical issues with our clients and communicate accordingly. • The Firm does not anticipate any potential audit • problems. Our service team understands the industry ® issues relevant to the City. The combination of our Firm's resources, level of partner involvement and experienced • team members provides an excellent service team of • professionals capable of servicing your needs. • • • • MQ RC IM Proposal for Professional Auditing Services ACCOUNTANTS ADVISORS www.marcumllp.com • Page 31 • 1215079F •