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At the conclusion of our fieldwork, Maria and Rupinder will review the final financial statement drafts with you and your staff as part of our exit conference. Scott will perform a "cold review" of the financial statements, so that we will be ready to sign the financial statements as soon as the City approves them. We designed this approach specifically to fit cities. It requires our Principals and Supervisors to be fully and actively involved in the planning and performance of the work and it allows us to issue final financial statements and reports immediately after we finish our fieldwork in your offices. As you know, our approach allows you to control the audit process, enables you to spread the work as you wish and greatly reduces the pressure at year end. Mallagemellt Letter At the conclusion of our year end audit, we will review all our audit documents, findings and draft recommendations with you. The purpose of this review will be to ensure that we have our facts straight and to determine that our recommendations will benefit the City without adding unnecessary cost. We intend our recommendations to be constructive and we generally limit them to material matters affecting the financial statements, internal accounting controls and compliance with laws and regulations. Oil-Site EDP Hardware alld Software We utilize IBM compatible PCs operating in a Windows 95 and/or DOS 6.2 environment. We use both Word 7.0 as our word processor, and Excel 5.0 and Lotus 5.0 for Windows to prepare combined and combining fund statements and statistical schedules. Color graphs are prepared using Lotus for Windows. All our professional staff are adept at working with our personal computers and software and our clients' systems. We use lap top PCs and portable laser printers as part of our audit. We bring those machines to your offices and use them to make changes to the statements and footnotes as we complete the audit. This drastically reduces turn-around time and means we can literally print draft revisions and final reports in your office. Laws ami Regulatiolls All our people have extensive experience with Redevelopment Agency compliance, Single Audit Act, Transportation Development Act and similar grant compliance requirements. We determine which laws and regulations are pertinent to our compliance work when we identify the individual grants and programs we are required to test for compliance, principally by referring to O.M.B. 's "Compliance Supplement for Single Audits of State and Local Governments". Samplillg-Size alld Approach As in the past, we do not plan to use statistical sampling; all samples will be selected on a judgment basis, based on our experience and knowledge of municipal transaction patterns. We have experience with statistical sampling techniques and we have concluded that they are not generally cost effective audit tools when applied to our municipal clients' transaction populations, because of the relatively small size and the highly skewed nature of these populations from a statistical sampling point of view. 17 r- . M .1'.__0' ..- T