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GREENVILLESPARTANBURG AIRPORT DISTRICT REQUEST FOR PROPOSAL EXTERNAL FINANCIAL AUDIT SERVICES ISSUED: MARCH 5, 2019GreenvilleSpartanburg Airport District 2000 GSP Drive, Suite 1 Greer, SC 29651SECTION

How to fill out external financial audit services

How to fill out external financial audit services

1. Gather all relevant financial documents such as income statements, balance sheets, cash flow statements, and supporting documents like invoices and receipts.
2. Identify the scope and objectives of the audit. Determine the specific areas of the financial statements that need to be reviewed or audited.
3. Find a reputable external financial audit services provider. Research and shortlist potential firms or professionals with experience in your industry and good track record.
4. Request proposals from the shortlisted companies. Evaluate their expertise, qualifications, and pricing. Consider their audit methodology and approach.
5. Select an external financial audit services provider based on the evaluation. Enter into an agreement or contract that clearly outlines the scope, deliverables, timeline, and fees.
6. Provide the chosen auditor with all the necessary financial information and access to relevant systems or databases.
7. Cooperate with the auditors throughout the process. Answer any inquiries, provide explanations, and support them with additional documentation if required.
8. Review the auditors' findings and recommendations. Address any issues identified and implement necessary improvements.
9. Receive the final audit report from the external financial audit services provider. Review the report and ensure its accuracy and compliance.
10. Utilize the audit report for decision-making, regulatory compliance, and communicating the financial health of the organization to stakeholders.

Who needs external financial audit services?

1. Publicly traded companies are often required by law to undergo external financial audits to ensure transparency and accountability to their shareholders.
2. Private companies may also opt for external financial audits to enhance credibility, especially when they seek funding from investors, banks, or other stakeholders.
3. Non-profit organizations that receive significant funding from donors or government agencies may need external financial audits to demonstrate proper utilization of funds.
4. Government entities and agencies often require external financial audits to ensure compliance with financial regulations and to detect any fraudulent activities.
5. Any organization, regardless of its legal structure or industry, can benefit from external financial audits to assess internal control systems, identify financial risks, and improve overall financial management.

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