1. Engagement Mandate Perform an annual independent financial audit of the Board’s fiscal year ending June 30 in accordance with Nevada statutes and applicable professional standards. Express an opinion on whether the Board’s financial statements present fairly, in all material respects, the financial position and results of operations. Deliver audited financial statements and report to the Board prior to November 15 of each year. 2. Applicable Standards U.S. Generally Accepted Auditing Standards (GAAS) issued by the AICPA. Government Auditing Standards (GAGAS) issued by the U.S. GAO (“Yellow Book”). Uniform Guidance (2 CFR Part 200, Subpart F), if federal grant expenditures exceed the single-audit threshold. Nevada Revised Statutes NRS 631 and Nevada Administrative Code NAC 631 pertaining to fiscal oversight. 3. Audit Objectives Determine whether the Board’s financial statements are free of material misstatement, whether due to fraud or error. Evaluate the design and operating effectiveness of internal controls over: Cash receipts and disbursements Payroll processing
