2020-AWB-06 - RFP 2020-AWB-06 - Financial Statement Auditing Services - 2020, 2021 & 2022

SECTION 4:  SCOPE OF SERVICES:
 

1. 1. The audit of the Albany Water Board and the Albany Municipal Water Finance Authority shall include an examination of the financial statements for the years ending December 31, 2020, 2021, 2022.

1. 2. It is contemplated that the successful Proposer will be provided a complete set of financial statements, including related MD&A, footnotes and investment compliance report, for the year ending December 31, 2020, 2021, 2022.  In addition, the Proposer will be provided a notebook file, principally in electronic form, which will include a trial balance, depreciation and amortization schedules, bond schedules, and workpapers for substantially all assets, liabilities, and equity accounts.

1. 3. The audit should be performed in accordance with generally accepted auditing standards and all other applicable standards and/or regulations promulgated by the governments of the United States and the State of New York, including all separate written reports in accordance therewith. Such standards should include those set forth for financial audits in the General Accounting Office's Government Auditing Standards (1988), the standards found in the U.S. Office of Management and Budget Circular A-133, the New York State Uniform System of Accounts, Governmental Accounting, Auditing and Financial Reporting (GAAFR) standards issued by the Government Finance Officers Association, Statements on Auditing Standards issued by the Auditing Standards Board of the American Institute of Certified Public Accountants, and any relevant statements promulgated by the Governmental Accounting Standards Board (GASB), including GASB Statement 34.

1. 4. The selected Proposer shall keep the Albany Water Board closely involved with the progress of the work and apprised of all material developments in this matter.

1. 5. Work papers developed in conjunction with these audits must be retained by the firm for a period of no less than six years and be available upon request for examination by City, State and Federal agencies and be made available at the Albany Water Board/Authority’s request.