1. In general, the auditors will perform a financial and compliance audit to determine (a) whether the combined financial statements of the City fairly presents the financial position and the results of financial operations in accordance with generally accepted accounting principles and (b) whether the City has compliedwith laws and regulations that may have material effect upon the financial statements. 2. The auditors will examine the City’s internal accounting controls and accounting procedures and render written reports of their findings and recommendations to the Administrative Services Director. The examination shall be made, and reports rendered in accordance with generally accepted government auditing standards. In addition, the auditors shall communicate to the Administrative Services Director any reportable conditions found during the audit that can be defined as either a significant or material weakness 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 statement. 3. Auditors shall be required to make an immediate, written report of all irregularities and illegal acts or indications of illegal acts of which they become aware of to the Administrative Services Director and City Manager...
