All correspondence must be made through the Vendor Portal. Specifications include, but are not limited to: conduct and will conduct the audit of the financial statements in accordance with auditing standards generally accepted in the United States of America and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States , with the objective of expressing an opinion as to whether the presentation of the financial statements taken as a whole conforms with accounting principles generally accepted in the United States of America; In conducting the audit, the Contractor will perform tests of the accounting records and such other procedures as considered necessary in the circumstances to provide a reasonable basis for their opinion on the financial statements. The Contractor also will assess the accounting principles used and significant estimates made by management, as well as evaluate the overall financial statement presentation.; The Contractor's audit of the financial statements is to be planned and performed to obtain reasonable, but not absolute, assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. Absolute assurance is not attainable because of the nature of audit evidence and the characteristics of fraud. Therefore, there is a risk that material errors, fraud (including fraud that may be an illegal act), and other illegal acts may exist and not be detected by an audit of financial statements performed in accordance with the auditing standards generally accepted in the United States of America. Also, an audit is not designed to detect matters that are immaterial to the financial statements.
