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~~ <br />Description of Services <br />Final Fieldwork -Audit Approach <br />We will commence our final fieldwork as soon as the City has sufficiently closed their accounting records preferably in <br />August through October. During this phase, we wil{ perform substantive audit procedures on the year-end balance sheet, <br />revenue and expenditure/expense accounts. We will use a variety of audit procedures including outside confirmation, <br />detailed testing of City schedules, analytical review and observation. <br />For all reports, we will prepare drafts and submit them for your review. Finally, we would expect presenting the various <br />audit reports to the Audit Committee (or equivalent) and appropriate City personnel. <br />Exif Phase <br />At the end of the audit process we will meet with City staff to cover the following: <br />~ Discuss workable solutions for potential findings <br />® Discuss improvements for subsequent years audit plan, and other areas <br />Although the exit phase involves a recap of the audit process we will be in constant communication regarding the status of <br />the audit. You wilt not have any surprises at the end of the audit. <br />27 <br />