1. The Contractor shall audit the accounts and records of the Housing Authority for the 12 month period ending 3/31/2025 (a) and a renewal period at the discretion of the IHAfor the 12 month period ending 3/31/2026 in accordance with Generally Accepted Government auditing standards and the auditing and reporting provisions of Uniform Guidance, and HUD Notice PIH 986-32 and (b) in conformance with the New Jersey statutes and Regulations, New Jersey Administrative Code 5:31.7. The audit performed shall be sufficient in scope to enable the Contractor to express an opinion in the audit report on the financial statements of the Authority, prepared in accordance with Generally Accepted Accounting principles (GAAP). 2. The books of account and financial records to be audited are maintained and are located at the IHA office at RFQ. These books and records will be made available to the Contractor by the Executive Director of the Agency at the Contractor's request for the Contractor's use at the Housing Authority's office during normal business hours. 3. If the Contractor ascertains that the Housing Authority's books and records are not in sufficiently satisfactory condition for the performing of an audit, the contractor shall disclose this deficiency to the Housing Authority...
