The selected Respondent shall furnish sufficient organization, personnel, and management staff with the necessary skills and judgment to perform all the duties and responsibilities normally associated with providing comprehensive audit services to a medium-sized municipality. The scope of services will include an examination of the financial statements of all accounts and funds for the City. Such examination shall be made in accordance with generally accepted auditing standards promulgated by the American Institute of Certified Public Accountants and in accordance with the laws of the State of Texas. These standards require that the auditor plan and perform the audit to obtain reasonable assurance about whether the basic financial statements are free of material misstatement. The audit shall include examination, on a test basis, of the evidence supporting the amounts disclosed in the basic financial statements. The City desires the auditor to express an opinion on the fair presentation of its basic financial statements in conformity with generally accepted accounting principles. The City also desires the auditor to express an “in relation to” opinion on the fair presentation of its combined and individual fund financial statements and schedules in conformity with generally accepted accounting principles. The auditor shall also be responsible for performing certain limited procedures involving required supplementary information required by the Governmental Accounting Standards Board, as mandated by generally accepted auditing standards. In addition, the City receives federal and state grant revenues each year and might require that a single audit be performed in accordance with federal government requirements. The proposer should include the qualifications and experience to conduct a single audit.
