City of Los Banos #RFP Audit Questions

City of Los Banos Audit Services RFP (GASB 68 & 75 Reporting)

The City of Los Banos is soliciting proposals from qualified audit firms to provide comprehensive audit services for the city. - Government Buyer: - City of Los Banos (local government, Merced County, CA) - Scope of Services: - Annual financial statement audits - Compliance with new GASB 68 and GASB 75 reporting requirements - Use of Springbrook accounting system - No single audit required in the past four years - No major changes in contracts, debt, litigation, or management, except for early stages of a new police station project - Unique Requirements: - Emphasis on audit process efficiencies - Reference to RFP for detailed requirements - No OEMs or specific vendors are named, as this is a professional services solicitation for audit firms.

Description

This document contains a series of questions related to the audit services for the City of Los Banos. It covers details such as the duration of the current auditor's engagement, staffing and time spent on site, new services requested including GASB 68 and GASB 75 reporting, and specifics about the City's accounting system and financial activities. The questions also address any major changes in contracts, debt issuance, litigation, and expectations for the audit process. This information is intended to assist prospective auditors in understanding the scope and requirements of the City's audit needs.

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