Summary of Specifications:
The City of Rochester Hills is seeking an audit firm that will conduct an audit that allows audit reports to be issued including the Comprehensive Annual Financial Report (CAFR) on the entire operations of the City, its funds and component units. Separate audit reports will be issued for the Single Audit, RARA and OPC, and any other reports required by federal and state agencies. The auditor will perform financial audits in order to express an opinion on whether the basic financial statements are presented fairly in conformity with generally accepted accounting principles in the United States of America and the standards applicable to financial audits contained in the Government Auditing Standards, issued by the Comptroller General of the United States. The basic financial statements include the governmental activities, the business-type activities, the aggregate discretely presented component units, each trust fund, each major fund and the aggregate remaining fund information of the City of Rochester Hills. Each year the audit should review all updated compliance with laws, regulations, pronouncements, internal controls and with all changes by the Governmental Accounting Standards Board (GASB).
