The anticipated engagement will begin in July for the audit of financial records for each fiscal year beginning in July 2024 for the audit of Fiscal Year 2023-2024 and shall be performed in accordance with generally accepted auditing standards. Franklin Discovery Academy must have their audit field work completed prior to August 31 each year and all reports by the relevant statutory deadlines. Interested certified public accounting firms should include the following in their proposal to perform the audit. • Submit a general audit work plan to accomplish the detailed scope and objectives defined in these proposal requirements. The audit work plan should demonstrate the auditor’s understanding of the audit requirements and the audit tests and procedures to be applied in completing the audit. • Work with Franklin Discovery staff and school administration to audit our finances and records as required by Utah law; • Work with assigned Staff to coordinate the audit as directed by Franklin Discovery’s Audit Committee or Governing Board; • Work with Staff to assist with the resolution or calculation of accrued expenses, salaries and revenues as needed when discrepancies arise; • Work with Staff to assist and resolve and prepare records and reports for depreciation of fixed assets; • Provide to Staff adjusting journal entries (as applicable) to adjust trial balances with the Firm before all final reports are submitted by appropriate deadlines; • Prepare reconciliation reports as needed or required by Utah law or Administrative Rule; • In coordination with Staff, prepare and present Annual Finance Report and Annual Program Report (UPEFS) data or their equivalent successor report(s), to Franklin Discovery for review and approval. Assist Franklin Discovery with submittal to the Utah State Office of Education (USOE) by the required deadline;
