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10) All accounting records are maintained on die modified accrual basis or accrual basis <br />as appropriate. <br />l l) Budgets we integrated with the accounting records. <br />12) The County has determined that the U.S. Department of Housing and Urban <br />Development will function as the eogniaent agency in accordance with provisions of <br />the Single Audit Act and OMB Circular A-133. <br />13) Indian River County has received the Government Finance Officers Association's <br />Certificate of Achievement for Excellence in Financial Reporting for the 1983 <br />through 1998 Comprehensive Annual Financial Reports. The CAM for each ofthe <br />fiscal years covered by this RFP will be submitted for consideration for the <br />Certificate. The selected firm will be expected to provide technical assistance to help <br />the County meet the program's requirements. <br />14) Indian River County is progressive in its attitude toward new accounting standards. <br />Early implementation is practiced when recommended. <br />Services Required <br />I) An audit and an opinion on the basic financial statements, the combining, individual <br />fund, account group and supporting financial statements oflndian River County. Ile <br />supporting financial statements are the basic financial statements for the Board and <br />for each Constitutional Officer. The auditor is not required to audit the statistical <br />section ofthe report. <br />2) The audit is to be done in accordance with the Rules ofthe Auditor General, Chapter <br />10.550, the Single Audit Act , OMB Circular A-133, the GAO Yellow Book, <br />Government Auditing Standards, mrd the AICPA Auditing Standards. <br />3) Preparation ofall required note disclosures for the County's Comprehensive Annual <br />Financial Report. <br />4) Following the completion ofthe audit ofthe fiscal year's finmtcial statements, the <br />auditor shall issue the following reports for the County and each individual <br />constitutional officer. <br />a. A report on the fair presentation of the financial statements in conformity <br />with general accepted accounting principles. <br />b. A report on the internal control structure based on the auditors' <br />understanding of the control structure and assessment ofcontml risk. <br />Page 5 <br />