Audit Services

Cobb County requests proposals from qualified firms to examine and state an opinion on its financial statements for its fiscal years 2025 through 2029, to state a separate opinion on the fair presentation of the Cobb-Marietta Coliseum and Exhibit Hall Authority, to perform an annual program review of the County’s Water Systems System Development Fee for the same period, and to report on the financial assurance requirements for the closure and post-closure care costs of the County’s Solid Waste handling facilities. The County's fiscal year runs from October 1 through September 30.

Proposals are requested for an examination and expression of opinion on the fair presentation of the basic financial statements in conformity with generally accepted accounting principles (GAAP). The examination must be performed in accordance with generally accepted auditing standards (GAAS) as set forth by the American Institute of Certified Public Accountants, the Single Audit Act Amendments of 1996, the provisions of OMB Circular A-133, and the Government Auditing Standards issued by the United States General Accounting Office. It must also meet the requirements of the applicable laws of the State of Georgia.

The auditor is not required to audit the supporting schedules contained in the annual comprehensive financial report. However, the auditor is to provide an "in-relation-to" report on the supporting schedules based on the auditing procedures applied during the audit of the basic financial statements. The auditor is not required to audit the statistical section of the report. The auditor shall be responsible for performing certain limited procedures involving supplementary information required by the Governmental Accounting Standards Board as mandated by generally accepted auditing standards. The auditor is not required to audit the Schedule of Federal Financial Assistance. However, the auditor is to provide an "in-relation-to" report on that schedule based on the auditing procedures applied during the audit of the financial statements.

In connection with the Financial Assurance Requirements for Solid Waste Handling and Processing Facilities Closure and Post-Closure costs, the auditor is required to perform limited procedures for the purpose of expressing an opinion on Cobb County’s compliance with the financial assurance provisions of the Municipal Solid Waste Landfill Criteria under subtitle D of the Resource Conservation and Recovery Act.

Additionally, the auditor will provide a separate opinion of the fair presentation of the financial statements of the Cobb-Marietta Coliseum and Exhibit Hall Authority in conformity with GAAP. The examination must be performed in accordance with GAAS.

The County intends to issue annually an Annual Comprehensive Financial Report (ACFR) prepared in accordance with generally accepted government accounting principles and all applicable federal and state requirements. It will submit each ACFR to the Government Finance Officers Association Certificate for Achievement for Excellence in Financial Reporting Program, and expects to receive the award each year, as it has done for the years 1986-2023.

The audit firm engaged will be responsible for portions of the ACFR preparation along with the Finance Department staff.

County Finance Department staff is responsible for compiling the Statistical Section of the report including tax-related items from the Tax Commissioner's records. (Final property tax collection amounts are not available until December.) Additionally, separate component Unit Financial Reports for the Cobb-Marietta Coliseum and Exhibit Hall Authority will be issued annually. The audit firm will be responsible for the ACFR preparation of the component unit.

Throughout the contract period the auditor shall advise the County on implementation of new accounting standards as promulgated by authoritative bodies. The auditor shall also give advice to the County on specialized accounting questions that may arise. The County acknowledges its responsibility for the reliability, accuracy, and completeness of all financial preparations.

Following the signing of the audit contract, a pre-audit conference will be held by the selected firm and the County financial staff. At this time, a detailed schedule for the FY 2025 audit will be developed. A similar conference will be held each year of the contract. The County reserves the right to specify the order in which Funds are to be audited each year. Proposed bond issues or other events may require that a particular Fund be given priority.

The Single Audit Report should be available by May 15th (if not sooner) of the following year.

In April of the following year, the financial assurance for closure and post-closure cost for the County’s Solid Waste Handling facilities must be completed and submitted to the Georgia Department of Natural Resources Environmental Protection Division.

In May of each year, the audit firm must provide the County with an estimated breakdown by fund of audit costs for the following fiscal year, for budgetary purposes. Audit costs can be billed up to 75% of the contracted amount prior to completion of the ACFR. The remaining 25% will be paid after the ACFR is completed.

Audit working papers are to be retained for at least five years and are to be made available for examination by authorized representatives of Cobb County and other governmental agencies. Working papers are also to be available for review by successor auditors, and the audit firm shall respond to reasonable inquiries from a successor firm.