Specifications include, but are not limited to: The services of a public accounting firm for the Annual Audit and Agreed-Upon Procedures for State Compensatory Education (if needed) for fiscal year 2021. The organization-wide audit will encompass the financial statements as required by GASB Statement No. 34 and the Texas Education Agency Financial Accountability System Resource Guide (FASRG) for the District for the fiscal year ending August 31, 2021. The audit is to be performed in accordance with generally accepted auditing standards and generally accepted government auditing standards contained in the Texas Education Agency Financial Accountability System Resource Guide (FASRG). The financial statement audit is to determine whether (1) the financial statements present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information and the respective changes in financial position and cash flows, where applicable, in conformity with generally accepted accounting principles, and (2) whether the United Independent School District has complied with laws and regulations for those transactions and events that may have a material effect on the financial statements. The financial related audit will also include determining whether (1) financial reports and related items are fairly presented, (2) the financial information is presented in accordance with established or stated criteria, and (3) the District has adhered to specific financial compliance requirements. The annual audit will also include obtaining an understanding of the school district’s internal control and reporting any reportable conditions relating to the internal control system coming to the attention of the auditors. To comply with 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 accordance with the Single Audit Act.
