Independent Audit Services

2026-11-03

The Town of Leland ( hereinafter called the " Town ") invites qualified independent auditors ( hereinafter called “ Auditor ") having sufficient governmental accounting and auditing experience in performing an audit in accordance with the specifications outlined in this Request for Proposal ( RFP ) to submit a proposal . There is no expressed or implied obligation for the Town of Leland to reimburse responding firms for any expenses incurred in preparing proposals in response to this request . The specific details provided herein shall be considered minimum unless otherwise shown . The specifications , terms , and conditions included with this RFP shall govern in any resulting contract ( s ) unless approved otherwise in writing by the Town . The bidder consents to personal jurisdiction and venue in a state court of competent jurisdiction in Brunswick County , North Carolina . Type of Audit 1 . The audit will encompass a financial and compliance examination of the Town ' s annual audit report in accordance with the laws and regulations of the State of North Carolina , which include requirements for the minimum scope of the audit . The financial and compliance audit will cover federal , state , and local funding sources in accordance with Generally Accepted Auditing Standards ; Government Auditing Standards ; the provisions of Title 2 U . S . Code of Federal Regulations ( CFR ) Part 200 , Uniform Administrative Requirements , Cost Principles , and Audit Requirements for Federal Awards ( Uniform Guidance ); the State Single Audit Implementation Act ; and all other applicable laws and regulations . 2 . The scope of the audit and all fee quotes presented should include all approved and known pronouncements through the date of proposal submission . This includes , but is not limited to , the Governmental Accounting Standards Board ( GASB ) statements and Government Auditing Standards . Although some pronouncements will not be in effect until after the first year of the audit , estimates for future years should include pronouncements that will become effective during that contract period . The Auditor will be expected to advise appropriate Town staff on the applicability of accounting and reporting standards as they become effective . 3 . The financial audit opinion will cover the financial statements for the governmental activities , the businesstype activities , each major fund , discretely presented component units ( as applicable ), and the remaining fund information , which collectively constitutes the basic financial statements . The combining and individual financial statements , schedules , and related information are not necessary for fair presentation , but will be presented as additional analytical data . This supplemental information , as required by GASB 34 , will be subjected to the tests and other auditing procedures applied in the audit of the basic financial statements , and an opinion will be given as to whether the supplemental information is fairly stated in all material respects in relation to the basic financial statements taken as a whole . The Auditor shall express an opinion on the budgetary comparison information for the General Fund , and annually budgeted major and special revenue funds . An opinion will not be given on the Management Discussion and Analysis . The working papers shall be retained and made available upon request for no less than three ( 3 ) years from the date of the Audit report . 4 . The audit will also include the following : a . Pre - planning conference with Finance staff where both the Auditor and Finance staff discuss their expectations of the audit . b . Interim audit work prior to June 30 and / or prior to final close . c . Year - end fieldwork performed on - site and remotely . d . Auditor preparation and submission of all reports and required documentation to the Local Government Commission ( LGC ), including the LGC Data Input Workbook and the Annual Financial Information Report ( AFIR ). e . Assistance with submission to the Federal Audit Clearinghouse , if a federal Single Audit is required . f . Attendance at the November Town Council agenda meeting on Monday and Town Council regular meeting on Thursday of the same week for presentation of the financial statements by the Manager or Partner of the audit firm with comments and potential questions from the Council as requested . 5 . The audit should encompass all funds and entity - wide activities as reported in the Town ’ s annual audit report at June 30 , and any additional funds or entity - wide activities that may be added subsequent to that date . 6 . If required , the Auditor will issue a management letter to the Town Council after completion of the audit and assist management in implementing recommendations , as is practical . Town staff also request that an informal letter be addressed to the Finance Officer with any efficiency , internal control , or accounting improvements that could be made based on the Auditor ’ s observation during fieldwork . All content must be discussed with the Finance Officer prior to issuance . 7 . The Town staff may require the Auditor ’ s guidance or input on the completion of certain schedules / documents as to proper format and content , so that they can be used in the audit process as well as inclusion in the Town ’ s financial statements . Guidance may be required for new note disclosures , all outstanding and effective authoritative standards , and other reporting requirements at June 30 year - end . Cost for providing these services should be included in the Auditor ’ s base fee quote and will not be considered extra for additional billings . In cases , however , where services requested would require a more in - depth scope and require work significantly above the original fee quote , such additional fees must be negotiated prior to commencement of work . Auditor Requirements The audit firm is considered an independent contractor and will be wholly responsible for the services and the supervision of its own employees and permitted sub - contractors . A planning meeting will be held each year to determine schedules that the Town will be responsible for preparing . Estimated time frames will be established , and interim audit work will be planned . Adequate notification will be given prior to any changes in estimated times .

North Carolina

2026-05-05