The objectives of the auditing services are to: • Provide an auditor’s opinion as to whether the financial statements are fairly presented in accordance with generally accepted accounting principles. • Provide the required statements and reports regarding grants and loans in accordance with the Single Audit Act and title 2 U.S. Code of Federal Regulations (CFR) Part 200. • Comment on the system of internal control, and comment generally regarding improvements which can be made in EBMUD's financial information system from observations made during the course of the auditor's independent financial review. • Comment on the nature and impact of any noted instances of non-compliance with applicable state and federal laws and regulations. • Ensure all audited financial reports are presented in a form which is readable, understandable, useful as an internal management tool, and accurately communicates EBMUD's financial position to readers with non-financial backgrounds.
