Specifications include, but are not limited to: 1) Deliverables a. An audit opinion on GTCC consolidated financial statements (GASB based financials) (A-133 audit report is not needed). The audit should determine if the financial statements present fairly the financial position, results of operations and cash flows in accordance with GAAP and whether GTCC has complied with the laws and regulations for those transactions and events that have a material effect on the financial statements. Financial statements are to be presented in a format provided by the Office of the State Controller. The audit must be conducted in accordance with the auditing standards generally accepted 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. Statewide accounting policies are established by the North Carolina Office of the State Controller. b. Compliance audit for the State Capital Infrastructure Fund (SCIF) grants. 2) The timing for onsite work for planning and control testing may be negotiated.
