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1 <br />6.1.A. - Page 14 <br />l -y of Redwood City <br />Proposal £ -' <br />x , <br />Technical Approach <br />The approach to the audit has been designed to meet the audit requirements of the various <br />authorities with the least disruption to the City's operations, The foundation of the audit approach <br />is based on communication coupled with a strong knowledge of City operations and detailed <br />planning at the initial stages of the audit. Open communication lines with all parties of the <br />Engagement Team and City Management and staff throughout the engagement eliminate <br />"surprises ". Initial planning and proper assignment of duties to experienced personnel provide for <br />an effective and efficient audit process. Consequently, inefficiencies, disruptions, and lack of <br />understanding are kept to a minimum. <br />The audit approach will consist of four phases: <br />Initial Planning Meeting: t <br />The Engagement Partner and Manager will meet with City Management to discuss the <br />audit approach, identify specific needs of City Management, and familiarize themselves <br />with City policies and practices. <br />Interim: <br />The Engagement Team members including the Engagement Team Partner will perform the <br />internal control reviews, test transactions, evaluate compliance with Single Audit Act <br />requirements, identify potential audit issues that need to be addressed, perform limited <br />confirmation procedures, and develop a clear understanding between the Engagement _ <br />Team and City Management of the year end audit responsibilities and assignments. <br />Year end: <br />The Engagement Team members including the Engagement Team Partner will conduct <br />validation procedures on general ledger account balances, complete confirmation <br />procedures, perform analytical procedures on revenue and expenditures, perform search <br />for unrecorded liabilities, complete compliance work on Federal Assistance, and wrap up <br />audit field work. <br />Reporting: <br />Auditor's reports for all City reporting entities and compliance requirements will be finalized <br />U <br />along with Single Audit Reports and Management Letter comments. The Partners and <br />Manager will be available to make presentations to the City Council and /or designated <br />bodies. <br />Assuming there are no internal City circumstances that could delay the audit, the audit process will <br />be completed and all reports issued within the time frames established by the City. <br />x <br />�a <br />Caporicci & Larson, CPAs <br />� <br />_, °y4 <br />