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I I' I I I I I I I I I I I I I I I I I VI~ PROPOSAL REQUIREMENTS 8~PRQPQSAL 8. SPECIFIC AUDIT APPROACH (Continued) a. Proposed segmentation of the engagement (Continued) Phase II - Execution of Audit Plan (Continued) We are actively committed to using computer-based audit techniques. Our knowledge of information systems (IS) and the use of personal computers yield significant savings in the time required to complete an audit. For data extraction, including sample selection, we use a software called Audit Command Language (ACL) for Windows. Phase III - Completion and Deliverv In this phase of the audit, we will complete the tasks related to the closing of year- end balances and financial reporting. This will include final testing in the areas of compliance, balance sheet accounts, revenue and expenditures, among others. All reports will be reviewed with management before issuance, and the partners will be available to meet with the City to discuss our report and address any questions they may have. Tasks to be performed in Phase III include, but are not limited to the following: · Perform final analytical procedures including comparison of adjusted expenditure amounts to the budget. · Review minutes for subsequent events. · Meeting with Management to discuss preparation of draft financial statements, Management's Discussion and Analysis, subsequent events, and any potential findings or recommendations. b. Level of staff and number of hours to be assigned to each proposed segment of the engagement To achieve the proper balance between the ability to recognize problems and the cost in performing the services, 80% of the engagement will be performed by our Management Team. We emphasize utilizina our hiahest exDerienced Dersonne/ because of their exDerience. trainina and education and corresDondina abilities to recoanize Drab/ems and deal with them exDedientlv. 'Tr; ~r~~if~d ~~~~~~'~'~:/~ 36