Laserfiche WebLink
CITY OF REDWOOD CITY <br />Specific Audit Approach <br /> <br />Audit Schedule <br /> <br /> March Award of Contract <br /> April/May Interim Audit Procedures: <br /> <br /> April/May - Planning and Administration Partner 10 <br /> Manager 5 <br /> <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 /> <br /> April/May - Internal Control Structure Partner 20 <br /> Manager 10 <br /> Senior 60 <br /> Staff 160 <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 /> <br /> <br />