Description
The City of Salem is seeking proposals from qualified independent public accounting firms to provide auditing services over the next five years. The scope of work includes performing audits for the City of Salem, Urban Renewal Agency, and Salem Convention Center, as well as providing technical assistance and presenting audit results to the City Finance Committee. The selected firm will be required to conduct audits in accordance with Generally Accepted Auditing Standards (GAAS) and Generally Accepted Government Auditing Standards (GAGAS). The firm will also be required to provide a management letter and assist with the preparation of financial statements.
Key points to consider:
• The City of Salem has a Council-Manager form of government with an elected mayor and council.
• The City has approximately 1,300 employees and nine operating departments.
• The Finance Department consists of 25 employees and is responsible for closing the books, reconciling bank and general ledger accounts, and preparing financial statements.
• The City is seeking a firm with experience in performing audits for municipal corporations and urban renewal agencies.
• The selected firm will be required to provide technical assistance and present audit results to the City Finance Committee.
• The firm will be required to conduct audits in accordance with GAAS and GAGAS.
• The firm will be required to provide a management letter and assist with the preparation of financial statements.