A. The audit shall be performed in compliance with all the requirements listed as follows: 1. Applicable Georgia Statutes 2. Reporting requirements of GASB-34 3. Rules of the Georgia Department of Audits and Accounts 4. “Audits of State and Local Government Units”, issued by the American Institute of Certified Public Accountants 5. Circular A-133, Audits of States, Local Governments & Non-Profit Organizations, Office of Management and Budget 6. Federal Single Audit Act of 1984 7. Federal Single Audit Act Amendment of 1996 8. Statements on Auditing Standards (GAAS) 9. Government Auditing Standards issued by the Comptroller General of the United States 10. Any other applicable Federal, state, local regulations or professional guidance not specifically listed above as well as any additional requirements which may be adopted by these organizations in the future. B. The audit shall be an annual financial audit as defined in Georgia Statutes and shall be conducted in accordance with generally accepted auditing standards. The contract shall cover a four (4) year period beginning with the report for fiscal year 12/31/2021 through 12/31/2024 and ongoing annually for each fiscal year. C. The auditor shall prepare, submit, and present to the Mayor and City Council, by the deadline for the December regular City Council meeting, following the end of the fiscal year under audit, a report on the financial condition of the City of Walthourville, or deterioration thereof, in accordance with the rules of the State Auditor. The City shall be provided with 15 copies of the audit report.
