Specifications include, but are not limited to: 1. The District requires the following: A. An expression of an audit opinion on the fair presentation of the government’s basic financial statements in conformity with generally accepted accounting principles. B. Single audit report relative to state and/or federal financial assistance programs. C. Management letter indicating deficiencies or opportunities for accounting and reporting improvements, specifically identifying any reportable condition or material weakness. D. Disclosure of irregularities and illegal acts. E. Reporting on the internal control system based on the auditor’s assessment of the structure and control risk. F. Conducting performance audits to assess operating effectiveness and efficiency. 2. The District must also adhere to guidelines established by the State Department of Education, as set forth in the South Carolina Department of Education’s Single Audit Guide, and by the South Carolina Department of Education’s Funding Manual. A copy of the State Department of Education Guidelines can be obtained from the State Department of Education, 1429 Senate Street, Columbia, South Carolina, 29201. 3. Assistance During the Audit A. The District’s Finance Department will be available to prepare financial schedules and pull requested documents. The Accounting Coordinator will review a draft of all the financial statements, prepare the supporting schedules, and will also coordinate all audit work. B. The District is available to provide the maximum possible assistance to the successful firm. C. All primary accounting records are maintained in the Finance Department.
