Vendor shall perform auditing services for the State of NC ACFR including the basic, combining, and individual fund statements and schedules, financial and compliance examinations, and issuance of appropriate audit reports and rate covenant reports. The audit must be conducted in accordance with auditing standards generally accepted in the United States of America and in accordance with standards applicable to financial audits contained in Government Accounting Standards, issued by the Comptroller General of the United States. Furthermore, all statewide accounting policies established by the Office of the State Controller (OSC) must be followed and financial statements are to be presented in accordance with the Governmental Accounting Standards Board (GASB) The Vendor’s financial audit opinions shall cover the financial statements for the governmental activities, the business-type activities, each major fund, and the remaining fund information that collectively constitutes the basic financial statements as well as supplementary schedules for Turnpike projects. The combining and individual fund statements and schedules and related information shall be presented in the ACFR as additional analytical data. This supplemental information will be subjected to the tests and other auditing procedures applied in the audit of the financial statements, and an opinion will be given as to whether the supplemental information is fairly stated, in all material aspects, in relations to the financial statements taken as a whole.
