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I I I I I I I I I I I I I I I I I I I SECTION VI.B - REQUIREMENTS OF THE TECHNICAL PROPOSAL (ContinI/cd) 8. SPECIFIC AUDIT APPROACH (Col//il/lled) AUDIT METHODOLOGY AND WORK PLAN Depending on if City staff responds to our audit team's requests for information in a timely fashion with complete, well-supported and accurate work product and accounting records, the following audit plan timeline would be followed: INTERIM WORK Interim work will be performed throughout the year, as considered necessary, and will be completed by September 15 of each year. PLANNING STAGE Entrance conference with the City Manager, all key Finance Department personnel and Department Heads will be held in August of each year. A detailed plan and a list of audit schedules will be submitted to the City Director of Finance and Administration by August 31 of each year. FIELD WORK ST AGE Field work will commence in November and be completed in December 31 of each year. REPORTING STAGE A draft and recommendation to Management will be submitted to the City by January 15 of each year. We will discuss all significant findings with the City Manager, Finance Director and Department Heads. An exit conference will be held with the Finance Director, key Finance Department personnel and the City Manager before the final report is issued. The final report will be prepared as soon as the draft conversion report has been reviewed by Management and will be submitted no later than February 28,2008 for fiscal year 2007 and by January 31 of each subsequent fiscal year. We will attend the next City Commission meeting to discuss the report and make a final presentation. PROGRESS CONFERENCES THROUGHOUT THE AUDIT An entrance and exit conference will be held. Progress conferences will be held throughout the audit with the City's Staff, or at any time it appears: scheduled completion dates may be in jeopardy; the audit detects apparent violations of law or apparent instances of misfeasance, malfeasance or nonfeasance by an employee; information is discovered that indicates that defalcations may reasonably be anticipated; material weaknesses in internal controls are detected. YEAR ROUND INVOLVEMENT We will provide period reports throughout the year assessing the impact of any significant regulatory changes; i.e. accounting or reporting developments proposed and/or adopted by Government Accounting Standards Boards/Financial Accounting Standards Board or any other significant financial/accounting matters that may affect the City. Furthermore, we will respond to any question or inquiries within two (2) working days. Emergency requests will be addressed within eight (8) business hours. ) ~KR~"~~ 29