The AICPA State and Local Government Expert Panel worked collaboratively with the Government Finance Officers Association (GFOA) Committee on Accounting, Auditing and Financial Reporting to develop this joint article which:
educates both governments and their auditors about clauses in contracts and engagement letters in the governmental environment
focuses on provisions that may not meet AICPA professional standards and that may create uncertainty about the auditor’s independence
includes several recommendations regarding contracting for auditing services