External Financial Auditor Services

Background
The City of Sedona, Arizona is seeking qualified firms to provide professional financial auditing services. This initiative aims to ensure compliance with Generally Accepted Auditing Standards (GAAS) and other relevant regulations, thereby enhancing the financial integrity of the City’s operations.

Work Details
The selected auditor will be responsible for conducting an annual audit of all City funds in accordance with GAAS and other applicable standards. The scope includes:

1. Performing a Single Audit as necessary based on federal grant expenditures;
2. Conducting audits for state and federal funding compliance;
3. Completing a court review every three years to comply with Arizona Supreme Court standards;
4. Ensuring timely implementation of Governmental Accounting Standards Board (GASB) standards;
5. Issuing management letters with recommendations for internal control improvements;
6. Presenting audit results to the Audit Committee and City Council;
7. Assisting in the development of the Annual Comprehensive Financial Report (ACFR);
8. Providing assistance during the implementation of a new ERP system, ensuring appropriate internal controls are in place.

Period of Performance
The contract will have an initial term of three years, with two optional one-year renewal terms available at the City's discretion.

Place of Performance
The services will be performed within the City of Sedona, Arizona.

Bidder Requirements
Proposers must be licensed to practice in Arizona and demonstrate independence from the City as defined by auditing standards. They should provide evidence of qualifications, experience in municipal auditing, and a complete fixed fee schedule for services rendered.