Specifications include, but are not limited to: The annual general purpose financial statements audit will also include obtaining an understanding of HCDE's internal control and reporting any reportable conditions relating to the internal control systems coming to the attention of the auditors. To comply with Title 2 of section 200 Subpart F – Audit Requirements (formerly, Office of Management and Budget Circular A-133), a study and evaluation of internal control will include internal accounting and administrative controls for all major federal financial assistance programs, in accordance with standards for risk assessment for major federal financial assistance. Any material weakness noted during the study and evaluation of internal accounting and administrative controls and other kinds of noncompliance and questioned costs will be reported in compliance with the Single Audit Act. As part of the audit of the financial statements, transactions and records pertaining to federal programs will be tested for material compliance with federal laws, rules, regulations, and all instances of noncompliance will be reported. As part of the audit of the financial statements, transactions and records pertaining to federal programs will be tested for material compliance with federal laws, rules, and regulations and all instances of noncompliance will be reported to HCDE. During the term of the contract, HCDE may, on a requested basis, utilize the selected firm for guidance on compliance, other non-audit consultation matters, or other services which may be required. Additionally, the audit will include the preparation of the comprehensive annual financial report. In addition, at its discretion, HCDE may request the selected firm provide assistance with the preparation of the annual report or the analysis of new accounting standards or pronouncements. The scope of services is divided into nine (9) sections A-I. Please review each section closely when responding to this RFQ: A. Background Information B. Qualification Content C. Conditions for Submission of Qualifications D. Statement of Requirements E. Minimum Qualifications F. Delivery G. Proposed Schedule – RFQ and Audit H. Board of Trustee’s Approval I. Deviations from Specifications
