1. The annual audit will entail an audit of the District’s financial, transportation, attendance, nutrition services, and federal and state program records. 2. The annual audit will review and test the system of administrative control over compliance with federal laws and regulations to the extent considered necessary by the auditor and as required by the most current version of the U.S. General Accounting Office’s Government Auditing Standards. 3. The annual audit shall conform to all Missouri State Statutes, all requirements of the Department of Elementary and Secondary Education, the Single Audit Act of 1996 and the provisions of Uniform Guidance. 4. The annual audit will be conducted in accordance with generally accepted accounting standards. 5. The annual audit should go beyond the requirements of applicable statutes and regulations in an effort to provide all necessary information to the many persons and groups with legitimate interests in the financial affairs of the District. 6. The District maintains all funds on a modified cash basis. 7. The Proposal should include preparation of financial statements and note disclosures. 8. The Company must disclose in its Proposal its approach to the annual audit in conformity with the Statement on Auditing Standards 115 as well as other Statements appropriate to the audit. 9. The Proposal should identify and describe any anticipated potential audit problems, the Company’s approach to resolving these problems and any special assistance that will be requested from the District. 10. A presentation of the final audit report to the Board of Education by the Company is required.
