Specifications include, but are not limited to: The Commission desires the auditor to express an opinion on the presentation of its financial statements in conformity with generally accepted accounting principles in accordance with generally accepted governmental auditing standards. Auditor to audit the books of the Commission based on information provided by the agency, which will include all GL activity, Trial Balances and journal entries as well as create workpapers to support the audit and preparation of the financial statements. Auditor shall communicate and maintain a working relationship with the Commission staff before, during, and at the conclusion of the audit regarding proposed revisions, entries, questions, procedures, and policies that affect the financial statements. Assist with the creation of the Comprehensive Annual Report (CAFR) including development of the basic financial statements, footnotes, certain required supplemental information and any additional information required for presentation purposes. Final printing of 25 copies CAFR. Review of the completed CAFR in connection with the Government Finance Officers Association (GFOA) checklist and suggestions for improvements from prior audit submissions to the GFOA certificate of award program. Assistance with development of complicated closing adjustments related to the determination of contract revenues under federal hydropower contracts. Annual audit conference to determine audit timing and provide specific guidance and training of any new Government Accounting Standards Board (GASB) pronouncement implementation needed for that or future audits.
