The objective of the audit is to provide an opinion on the financial statements taken as a whole. The audit shall be conducted in accordance with the following standards and guidelines as applicable: HUD Audit Guide and Public and Indian Housing Compliance Supplements. Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) with provisions of the Single Audit Act. The Federal Compliance Supplement for Single Audits for State and Local Governments. Auditing and reporting provisions of the applicable HUD Audit Guide for Lower Income Housing Program for use by Independent Public Accountants. OMB Circular A-128, Audits for State and Local Governments. Guidelines on Reporting and Attestation Requirements of Uniform Financial Reporting Standards (“UFRS”). Any applicable requirements of the Governmental Accounting Standards Board (“GASB”). Generally Accepted Auditing Standards (“GAAS”) as promulgated by the American Institute for Certified Public Accountants (“AICPA”). Generally Accepted Government Auditing Standards (“GAGAS”) as published by the Government Accounting Office (“GAO”). Standards of Audit for Governmental Organizations, Programs, Activities, and Functions Title 24 CFR Part 990. Any applicable requirements promulgated and adopted by the Federal Government and/or State of North Carolina including individual grantor agency rules and regulations. NC Local Government Commission (“LGC”) reporting standards and provisions. Other relevant regulations or literature which may amend or supersede these requirements. The audit will be a financial and compliance audit. The audit will cover The Authority’s financial statements, internal control systems, and compliance with laws, regulations, contract provisions, and grant agreements that have a direct and material effect on each of its major programs. A planned conference will be held between the audit firm and the Authority’s Deputy CEO of Administration and Finance and staff as soon as practicable after the execution of the audit contract. Request for Proposals for Independent Auditing Services
