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I I I SECTION VI.B - REQUIREMENTS OF THE TECHNICAL PROPOSAL (Colltilllled) 8. SPECIFIC AUDIT APPROACH (CuI/IiI/lied) I SEGMENTATION OF THE PROJECT I Our approach to the audit engagement integrates the best of traditional auditing techniques with a total systems concept. We will consider the methods used by the City to process accounting information when planning our audit. We will include your specific requirements. I Phase 1 - Preliminarv PlanninQ I I A thorough understanding of the City's service objectives and operating environment is essential for the development of an audit plan and for an efficient, cost-effective audit. During this phase, we will meet with appropriate personnel to obtain and document our understanding of your operations and service objectives and, at the same time, give you the opportunity to express your service expectations. Our work effort will be coordinated so that there will be minimal disruption to your staff. Appropriate Planning and Resulting Effective Utilization of City Staff I I I BKR Garcia understands the significance and necessity of proper planning as it relates to performance of a successful and timely audit. An important aspect of proper planning is our Engagement Partner's advance coordination with and specific instruction to the Finance Department, resulting in an efficient utilization of staff regarding both preparations of supporting schedules and reconciliations in addition to essential document! record gathering. The reason we can confidently assert the aforementioned is due to our firm's 30 years of governmental auditing experience and applicable total five decades of governmental auditing experience of assigned Management-level team members. During this phase we will perform the following activities: I I I I ., Meet with staff to obtain knowledge of operations. ,. Review the work papers of the prior auditor ., Prepare an audit planning memorandum for review and approval. This memorandum will include, among other things, audit objectives, deliverables, scope and approach. ,. Analytical procedures are applied in this stage of the audit to assist in planning the auditing procedures to be used to obtain evidential matter for specific account balances or classes of transactions. ,. Review the regulatory, statutory and compliance requirements governing the City. We will review applicable federal laws, grant requirements, state statutes, resolutions, contracts, other agreements, your specific requirements and minutes of meetings of Commission applicable to its operation and various committees. ,. Review major sources of information such as budgets, organization charts, procedures manuals, financial systems, and management information systems. ,. Obtain an understanding and document the City's internal control over Environment / Data Processing. Consider the methods the City's uses to process accounting information. This consideration includes obtaining adequate knowledge about the design of relevant policies, procedures, and records, and whether they have been placed in operation by the City. I I I I ,) ~KR~~.:~~ 30