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& -1 D -& <br />CITY OF REDWOOD CITY <br />Specific Audit Approach <br />Audit Schedule <br />March Award of Contract <br />April /May Interim Audit Procedures: <br />April /May - Planning and Administration <br />Review and obtain copies of key work papers of <br />prior audit firm. <br />Entrance Conference with City Management to <br />discuss audit approach, timing, assistance, and <br />issues. <br />Review and evaluate the City's accounting and <br />financial reporting. Prepare an overall memo of <br />recommendations, potential issues, and <br />suggestions for improvements. <br />Prepare overall memo to City confirming audit <br />procedures, timing, and assistance. <br />Prepare detailed audit work plan and audit <br />programs, audit budget and staffing schedule, list <br />of schedules to be prepared by City staff, and <br />provide to City Management. <br />April /May - Internal Control Structure <br />Meeting with key Finance Division personnel. <br />Obtain and document understanding of key internal <br />control systems through walk- throughs, interviews <br />of staff, and review of supporting documentation: <br />- Budgeting System. <br />- Revenue, utility billing, accounts receivable, and <br />cash collections. <br />- Purchasing, expenditures, accounts payable, and <br />cash disbursements. <br />- Payroll. <br />- Federal Financial Assistance. <br />- Other systems. <br />Partner <br />Manager <br />Partner <br />Manager <br />Senior <br />Staff <br />10 <br />20 <br />10 <br />60 <br />160 <br />?q <br />