Specifications include, but are not limited to: C. Scope of Work to be Performed The Town of New Fairfield desires the auditor to express an opinion on the fair presentation of its general-purpose financial statements in conformity with generally accepted accounting principles. D. Auditing Standards to be Followed To meet the requirements of this request for proposals, the audit shall be performed in accordance with generally accepted auditing standards as set forth by the American Institute of Certified Public Accountants, the standards for financial audits set forth in the U.S. Comptroller General's Government Auditing Standards, the provisions of the Single Audit Act, the provisions of U.S. Office of Management and Budget (OMB) Circular A-133, Audits of State and Local Governments, and in conjunction and conformity with sections 4-230 through 4-236 of the Connecticut General Statutes (the State Single Audit Act), all applicable GASB pronouncements, requirements of the Office of Policy and Management of the State of Connecticut, requirements of the Board of Education of the State of Connecticut, and such other requirements as shall be promulgated by various oversight agencies. E. Reports to be Issued Following the completion of the audit of the fiscal year's financial statements, the auditor shall issue, as required by generally accepted auditing standards, and Government Auditing standards, OMB Circular A-133, and the Connecticut General Statutes, including but not limited to the following: General Purpose financial statements in conformity with generally accepted accounting principles. A report on the fair presentation of the financial statements in conformity with generally accepted accounting principles. A report on the internal control structure based on the auditor's understanding of the control structure and assessment of control risk. A report on compliance with applicable laws and regulations. Reports on the supplementary schedules of federal and state financial assistance. Reports on the internal control structure used in administering federal and state financial assistance programs. Reports on compliance with laws and regulations related to major and non-major federal and state financial assistance programs. This report should include an opinion on compliance with specific requirements applicable to major federal and state financial assistance programs, a report on compliance with general requirements applicable to major and non-major federal and state financial assistance programs, and a report on compliance with laws and regulations applicable to non major federal and state financial assistance program transactions tested. The auditor shall communicate in a letter to the Board of Finance any reportable conditions found during the audit and any other reports as might be required. A reportable condition shall be defined as a significant deficiency in the design or operation of the internal control structure, which could adversely affect the organization's ability to record, process, summarize, and report financial data consistent with the assertions of management in the financial statements
