A. Financial Statement Preparation The auditor will assist in year-end adjusting journal entries for Enterprise Funds. The auditor will prepare, type, proof, print, and copy the Basic Financial Statement, Required Supplementary Information, Other Supplementary Information, and Compliance reports. The auditor will submit a draft of the Financial Statement to be reviewed in detail by the Finance Director and staff. B. Audit Requirements As required by the Official Code of Georgia Annotated, the audit shall be conducted in accordance with auditing standards generally accepted in the United States of America, promulgated by the American Institute of Certified Public Accountants (AICPA) and in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. If a Single Audit is required as a part of the annual audit, the audit shall be performed in accordance with American Institute of Certified Public Accountants (AICPA) Standards, Government Auditing Standards, the Single Audit Act Amendments of 1996, and the Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, or Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards 2 CFR 200 (Uniform Grant Guidance (UGG)) Subpart F. This audit shall be designed to accomplish the following objectives: 1. To determine whether the financial statements present fairly the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information and the respective changes in financial position and cash flows, where applicable, and the respective budgetary comparison for the required major governmental funds in conformity with accounting principles generally accepted in the United States of America. In addition, to determine whether the combining and individual nonmajor fund financial statements are fairly stated in all material respects in relation to the basic financial statements taken as a whole. In addition, to determine whether the financial statements presented as supplementary information present fairly the financial position of each of Oconee County’s non-major governmental, non-major enterprise, internal service, and fiduciary funds and the respective changes in financial position and cash flows, where applicable, thereof in conformity with accounting principles generally accepted in the United States of America. 2. To obtain an understanding of internal control over financial reporting sufficient to assess the risks of material misstatements of the financial statements whether due to error or fraud, and to design audit procedures to understand both the design of controls relevant to an audit of financial statements and whether they have been placed in operation.
