OUR PROPOSED REQUEST TO SOLVE YOUR AUDIT NEEDS Solutions: Approach & Plan (continued) Audit Report Preparation and Delivery We do not anticipate any potential problems. If we become aware of any irregularities and illegal acts, we will report those in writing to the Finance Director. Your BMSS team will meet with management at an exit conference at the end of fieldwork to review drafts of the financial statements and management letter. Once management has had a chance to thoroughly review the financial statement drafts and BMSS has performed its quality control process, we will prepare the annual financial statements with all required note disclosures, including all statements and supplemental information required, and express an opinion on the fair representation of the financial statements in conformity with GAAP. We will issue a management letter to make recommendations related to financial statements, internal controls, management controls, operations, accounting systems, compliance issues including material weaknesses and significant deficiencies and identifying possible noncompliance with legal provisions as well as any other areas in which we may have seen any opportunities for improvement. We will prepare a Single Audit report on the financial statements, internal controls and compliance in accordance with GAS and OMB A-133. At completion, BMSS will provide the requested 10 quantities of the bound audit reports, including management letters, as well as making the high quality PDF file reports available to you in electronic format via our secure client portal. If requested, BMSS will make a formal presentation of the report to the Board. Workpaper Review & Access We will be happy to make our workpapers available as requested. Because our audit workpapers are maintained in a paperless environment, the easiest way for someone to review our workpapers is electronically. We are glad to provide hard copies of workpapers requested. Workpapers will be retained for a minimum of five years from the date of the written audit.
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