Specifications include, but are not limited to: The independent auditor will prepare the comprehensive annual financial report for the Town of Watertown, Connecticut in accordance with generally accepted auditing standards and in conformity with municipal audit requirements of the State of Connecticut Office of Policy and Management. The audit shall comply with the Single Audit Act requirements issued by the State of Connecticut and the Comptroller General of the United States. The financial report must also meet the requirements of the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Program. All duties and responsibilities of the independent auditor shall be conducted in accordance with all pertinent provisions of Connecticut General Statutes and Town of Watertown Charter. The financial audit examination will be made in accordance with generally accepted auditing standards as described in the Statements on Auditing Standards published by the American Institute of Certified Public Accountants, Standards for Audit of Government Organization, Programs, Activities, and Functions published by the Comptroller General of the United States, requirements of the Office of Policy and Management of the State of Connecticut concerning municipal audits, requirements of the Board of Education of the State of Connecticut, and such other requirements as shall be promulgated by various oversight agencies. The primary purpose of the examination will be to express an opinion on the financial statements. If conditions are discovered which lead to the belief that material errors, defalcations, or other irregularities exist, or if any other circumstances are encountered that require extended services, the independent auditor will promptly advise Town management.
