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<br />SECTION I.S(C) TECHNICAL PROPOSAL <br /> <br />8: SPECIFIC AUDIT APPROACH (Continued) <br /> <br />i. Assistance to be provided in meeting the requirements of the "Certificate of <br />Excellence in Financial Reporting". (Continued) <br /> <br />The Certificate of Achievement has been awarded on all of the financial statements we have <br />reported in the certificate program. <br /> <br />j. Process to be produce a meaningful "management letter". Include three <br />recent "management letters" developed in connection with local government <br />audits. <br /> <br />Application of the process in developing our management letter is particularly important given the <br />increasing financial pressures and public scrutiny facing today's public officials. In preparing this <br />management letter, we will initially review any draft comments or recommendations with <br />management where direct responsibility for the activity under question rests. We will prepare the <br />management letter at the completion of our final procedures. Please refer to the attachment <br />section to review three copies of recent management letters. <br /> <br />k. Internal quality control procedures and external quality control review. <br /> <br />Grau participates in an external quality review program requiring an on-site independent <br />examination of our accounting and auditing practice. A CODV of the reDort on the firm's most <br />recent Quality review can be found in the Attachments ReQuired section: PaQe 17. <br /> <br />In addition to scheduled Peer Reviews, our firm continually monitors performance to ensure the <br />highest quality of services. Under the supervision of the Audit Partner, an Audit Manager is <br />responsible for monitoring quality control of all appropriate engagements. <br /> <br />Communications <br /> <br />We emphasize a continuous, year-round dialogue between the City and our management team. <br />We believe this continuous, open communication is critical to serving your needs. <br /> <br />9: IDENTIFICATION OF ANTICIPATED AUDIT PROBLEMS <br /> <br />Grau & Associates does not anticipate any potential audit problems. <br /> <br />'r'::~~;f~d ~~~~~~?!~~ <br /> <br />15 <br />