Specifications include, but are not limited to: The audit must be prepared in conformance with the financial reporting standards applicable to governmental entities as adopted and issued by the Governmental Accounting Standards Board. Also, the audit must be performed by Generally Accepted Auditing Standards in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and accordingly, include financial and compliance matters contained in the Oregon Revised Statues, Oregon Administrative Rules, and applicable state and federal regulations. The audit must also be performed by the provisions of the following as they pertain to financial and compliance audits: • U.S. General Accounting Office’s (GAO) Government Auditing Standards. • Guidelines for Financial and Compliance Audits of Federally Assisted Programs. • Uniform Guidance. • Any additional official pronouncements impacting municipal accounting and financial reporting.
