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I I II I I I I I I I I I I I I I I I I TECHNICAL PROPOSAL Specific audit approach. (continued) Proposers will be required to provide the following information on their audit approach/plan: a) proposed segmentation of the engagement; b) level of staff to be assigned to each proposed segment of the engagement; c) sample size and extent to which statistical sampling is to be used in the engagement; d) extent of use of EDP software in the engagement; e) type and extent of analytical procedures to be used in the engagement; f) approach to be taken to gain and document an understanding of the City of Sunny Isles Beach's internal control structure; g) approach to be taken in determining laws and regulations that will be subject to audit test work, h) approach to be taken in drawing audit samples for purposes of tests of compliance; i) assistance to be provided in meeting the requirements of the "Certificate of Excellence in Financial Reporting"; j) process to produce a meaningful "management letter." (Include three recent "management letter" developed in connection with local government audits.); k) and internal quality control procedures and external quality control review. Keefe, McCullough & Co., LLP, C.P.A. 's anticipated approach to the examination of the financial statements of the City is summarized below: General Work Plan: 8. We have provided below a preliminary engagement work plan to perform the financial and compliance audits which involve the General Fund, Stormwater Fund, Capital Improvement Fund, Police Forfeiture Fund, and general fixed assets and long-term debt account groups of the City. In performing the financial and compliance audits for the City we will follow a very detailed and comprehensive audit program. Further, it is our policy to utilize the talents of our client I s personnel wherever and whenever it is feasible to do so in the course of any engagement in order to most efficiently perform the engagement. The following is a summary of the general work plan: Preliminary Work: Audit Area Obtain an understanding of the City's accounting and management systems including documentation of the system of internal control through conferences with the various key finance department personnel. Obtain an understanding of the various funds and account groups utilized by the City. Review the City's grants, contracts and various revenue sources and complete "Single Audit" checklist for determination of compliance audit requirements and reporting requirements for both Federal and State guidelines. Review of bond covenants and pertinent ordinances for determination of compliance audit requirements. Assess control risk and determine extent of testing. Responsible Professional Cynthia L. Calvert Cynthia L. Calvert Steve A. Akins Cynthia L. Calvert Steve A. Akins Steve A. Akins Cynthia L. Calvert