1. The annual audit will entail an audit of the District’s financial, transportation, attendance, food service, and federal and state program records. 2. The annual audit will review and test the system of administrative control over compliance with federal laws and regulations to the extent considered necessary by the auditor and as required by the most current version of the U.S. General Accounting Office’s Government Auditing Standards. 3. The annual audit shall conform to all Missouri State Statutes, all requirements of the Department of Elementary and Secondary Education, the Single Audit Act of 1996 and the provisions of OMB Circular A-133, and District Board policy DIE. 4. The annual audit will be conducted in conformance with financial reporting requirements promulgated by the Association of School Business Officials International (ASBOI), the Government Finance Officers Association (GFOA), and in accordance with generally accepted accounting standards. 5. The annual audit should go beyond the requirements of applicable statutes and regulations in an effort to provide all necessary information to the many persons and groups with legitimate interests in the financial affairs of the District...
