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<br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br />~I <br /> <br />SECTION III - SPECIFIC AUDIT APPROACH <br /> <br />Level Of Staff And Budgeted Number Of Hours <br /> <br />PROCEDURES <br /> <br />~ <br />Ql <br />c: <br />1:: <br />l'll <br />Q", <br />"0 <br />~ <br />... <br />c: <br />o <br />U <br />~ <br />l'll <br />:l <br />a <br /> <br />... <br />c: <br />Ql <br />E <br />Ql <br />Cl <br />l'll <br />Cl <br />c: <br />w <br /> <br />~ <br />Ql <br />c: <br />1:: <br />l'll <br />Q", <br /> <br />.l!l <br />c: <br />.fl <br />c: <br />:l <br />o <br />CJ <br />CJ <br /><( <br />~ <br />.S! <br />c: <br />Ql <br />en <br /> <br />PRELIMINARY PLANNING <br />Preliminary discussions - entrance meetings T T <br />Obtain understanding of service objectives T T T <br />Meet with predecessor auditor and review prior audit workpapers T T <br />Prepare audit planning memorandum T <br />Identify significant issues, review, evaluate and document internal controls T T T <br />Assess risk T <br />Develop detailed audit programs T <br />PERFORM AUDIT PLAN <br />Test internal controls T T <br />Test compliance with laws, regulations, contracts, grants and the City's policies T T <br />Substantive test of revenues, expenditures, procurement, payroll, etc. T T <br />Review minutes and other agreements T <br />COMPLETION AND DELIVERY <br />I <br />Complete review for subsequent events and obtain management representations T <br />Prepare reports T T <br />Review draft of all reports for subsequent events and obtain management representations T T <br />Issue report on findings and management letter T T <br />Attend meetings with Management and Board, as required T T <br /> <br />Appropriate Planning and Utilization of Staff <br /> <br />We understand the significance and necessity of proper planning as it relates to performance of a successful and <br />timely audit. An important aspect of proper planning is our Engagement Partner's advance coordination and specific <br />instruction with the Finance Department, allowing an efficient utilization of staff regarding both preparation of <br />supporting schedules and reconciliations, in addition to essential document/record gathering. <br /> <br />Identification Of Potential Audit Problems <br /> <br />We do not anticipate any audit problems at this time. However, if we do encounter an audit problem we will first <br />gather all relevant facts from the Finance Department and any other key management personnel and department <br />heads of key offices involved. If the problem is unresolved at that point, we will meet with the Audit Committee or <br />City Commission, as applicable. <br /> <br />22 <br />