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~ . ~ l oSUNNY .cISLES u BEACH --rlO --. _ SCOPE OF SERVICES Based on Our understanding of the expectations and requirements of the City of Sunny Isles Beach set forth in the request for proposal, the following is a summary of the scope of our proposed hours. Additional hours have been included for the new statements of auditing standards (Nos.1 03 -111) Phase I: Strategic Planning 5 5 5 10 25 Phase II: Execution of the Audit Plan 5 15 175 100 295 Phase II': Evaluate Audit Results 5 10 5 20 Phase IV: Completion and Delivery 15 20 10 10 55 30 50 195 120 395 - - - - - Audit of the City's Financial Statements Rachlin will perform an audit of the financial, statements of the City of Sunny Isles BeaCh for the fiscal years ended September 30, 2007, 2008 and 2009 with the option of two (2) succeeding fiscal years. The objective of the audit is the expression of an opinion as to whether the financial statements are fairly presented, in all material respects, and in conformity with accounting principles generally accepted in the United States. . Report on internal control over financial reporting on compliance and other matters based on an audit of financial statements performed in accordance with Government Auditing Standards. . Management letter in accordance with the Rules of the Auditor General. Rachlin will issue the following in accordance with Government Auditing Standards: . Report on the fair presentation of the basic financial statements as a whole in conformity with accounting principles generally accepted in the United States. Rachlin~~ Rachlin Cohen & Holtz LLP Proposal for Independent Auditing Services Page - 25 Accountants . Advisors