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EXHIBIT A '.'~>.~I. ~~, ,...,,¡' i"'::cl~;~~.,;: .:.;;',(;\AUDITSc'ÓP.KANI;>P~ÖYI$IQNS~" Audit Approach Overview As you have experienced, we have designed an entirely new audit approach specifically for municipalities. We use highly trained people, our own computers and software and we minimize the impact on your staff. Our audit programs are designed specifically for cities and we perform half our audit well before year-end. Our computerized approach maximizes our efficiency and lessens the load on our clients. We prepare drafts of the financial statements and notes for your review well before year-end and we give you detail checklists of all the items we will need from you months in advance. As you can see from the illustration below, our approach reduces the time you spend with auditors and significantly reduces our impact during the crucial year-end crunch. Hours or Impact NO INTERIM AUDIT TRADITIONAL AUDIT APPROACI [ OUI~ AI'I'ROACII Scp Oct Nov Dee We will audit the general purpose financial statements of the City of Redwood City and the Port of Redwood City as of June 30, 1998, 1999 and 2000 and for the years then ended. We will provide you with any adjusting journal entries generated by these audits. We understand you also require financial and compliance audits of the following: the Redevelopmcnt Agcncy of the City of Redwood City, Measure A Funds Grant and any MTCrrDA Grants. Our audits will be made in accordance with generally accepted auditing standards, the AICPA publication Audits of State and Local Governmental Units, the standards for financial and compliance audits contained in the Standards for Audit of Governmental Organizations. Programs. Activities. and Functions, issued by the U.S. General Accounting Office, the Single Audit Act of 1984, as amended in 1996 and the provisions of OMB Circular A-133, Audits of State and Local Governments, and the preparation of all necessary reports. As part of our audit, we will study and evaluate the internal accounting and administrative control structure and make such tests of transactions and records and perforn1 such other auditing procedures as we consider necessary to enable us to express our opinion as to whether the financial statements present fairly the financial position and results of operations of the City of Redwood City in accordance with generally accepted accounting principles. We will issue a Management Letter and recommendations on internal control to report the results of our tests, 14 r . r'. ...- T