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Document
RFP -Compensation Study, 2023
Year Created: 2023
DOCUMENT
RFP - Auditing Services 2006
- YEAR CREATED: 2006
- ENTITY TYPE: Authority: Housing
- TYPE OF DOCUMENT: RFP - Request for Proposals
- Finance
- Professional Services
The document provides context information related to an audit of the Knoxville's Community Development Corporation (KCDC). The document outlines various requirements and procedures that the auditor must follow during the audit process. It specifically refers to Handbook 7476.1, REV -1, Audits of Public Housing Agencies (PHAs) and Indian Housing Agencies.
Some of the key points mentioned in the document include:
1. The auditor is required to follow up on prior audit findings and assess the reasonableness of the summary of schedule of prior audit findings prepared by the auditee.
2. The auditor must complete and sign specified sections of the data collection form.
3. The auditor's report should include an opinion on financial statements, a report on internal control, a report on compliance, and a schedule of findings and questioned costs.
4. The auditor's working papers should be retained for a minimum of three years and made available to the cognizant or oversight agency for audit upon request.
5. The auditor needs to determine KCDC's major programs.
6. The auditor must adhere to generally accepted auditing standards (GAAS) and generally accepted government auditing standards (GAGAS).
7. An audit engagement letter needs to be prepared in accordance with AICPA standards.
8. The contract for the audit is subject to the approval and review of KCDC's cognizant agency, HUD, and the State of Tennessee Controller's Office.
9. The document provides a list of KCDC's ledger system as of July 1, 2005, including various funds and programs.
10. KCDC intends to contract for a single agency audit in accordance with OMB Circular A-133.
11. KCDC will provide the successful proposer with a copy of its Operations Manual, which details various policies and procedures.
12. KCDC had a previous audit in 2005, which resulted in one audit finding. The audit costs were broken down by program.
13. The document includes a schematic of KCDC's 2006 general ledger system, a Schedule of Expenditures of Federal Awards (Un-audited) for the year ended June 30, 2005, and other relevant attachments.
14. KCDC follows Generally Accepted Accounting Principles (GAAP) and HUD's Uniform Financial Reporting Standards for its accounting practices. The audit must be done in accordance with OMB Circular A-133 and the A-133 Compliance Supplement applicable to KCDC's programs. Various HUD handbooks, including Handbook 7476.1, REV -1, Audits of Public Housing Agencies (PHAs) and Indian Housing Agencies, are mentioned as authoritative sources.