Independent Audit Services

The City of Lago Vista is seeking a certified public accounting firm to provide independent external audit services. The selected firm will audit the City's financial statements and render an opinion on their fair presentation in accordance with generally accepted accounting principles (GAAP) and governmental accounting standards. The scope of work includes annual audits, single audits (if applicable), internal controls and compliance reviews, and meetings and presentations. The City intends to award a three-year contract with the option to renew for additional one-year terms. • Annual Audit: audit the City's financial statements for each fiscal year in accordance with GAAP, GASB, Government Auditing Standards, and Uniform Guidance (if applicable) • Single Audit (if applicable): conduct a Single Audit in accordance with Uniform Guidance if the City's federal expenditures meet the threshold • Internal Controls and Compliance Review: provide a management letter and recommendations for improvements • Meetings and Presentations: present audit results to the City Council and staff once the audit has been completed