2003-030 Agrmnt. w/Grau & Co. for Internal AuditingRESOLUTION 30-2003
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A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM
BEACH, FLORIDA, AUTHORIZING AND DIRECTING THE MAYOR AND VILLAGE
CLERK TO ENTER INTO LETTER AGREEMENT WITH GRAD & COMPANY, P.A.,
CERTIFIED PUBLIC ACCOUNTANTS, ATTACHED AS EXHIBIT "A", WHICH LETTER
AGREEMENT IS FOR THE PURPOSE OF THE VILLAGE SECURING INTERNAL
AUDITING SERVICES; AND, PROVIDING FOR AN EFFECTIVE DATE.
BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA:
Section 1. The Village Council of the Village of North Palm Beach, Florida, does hereby
approve the letter agreement with Grau & Company, P.A., Certified Public Accountants,
attached as Exhibit "A", which letter agreement is for the purpose of the Village securing
internal auditing services.
Section 2. The Mayor and Village Clerk are hereby authorized and directed to execute the
letter agreement with Grau & Company, P.A., as set forth in Exhibit "A" for and on behalf of the
Village of North Palm Beach.
Section 3. This resolution shall take effect immediately upon its adoption.
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PASSED AND ADOPTED THIS 24th DAY OF APRIL, 2003.
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~T~Grau&Company, PA.
~- certified public accauntants
2700 North Military Trail, Suite 350
Boca Raton, Florida 33431
(561) 994-9299 • FAX (561) 994-5823
(800) 299-4728
www.graucpa.com
March 28, 2003
The Honorable Mayor David B. Norris
Village Council
The Village of North Palm Beach
Village Hall
501 U.S. Highway 1
North Palm Beach, FL 33408
Dear Mayor Norris and Members of the Council:
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We are pleased to confirm our understanding of the nature and limitations of the
services we are to provide for the Village of North Palm Beach (the "Village").
We will apply the agreed-upon procedures for internal audit related functions as will be
provided by the Village at a later date. Prior to the commencement of fieldwork, the
Village will define the project scope, including the detailed procedures, materiality limits,
sample sizes, etc. This engagement is solely to assist the specified parties in the
evaluation of identified areas. Our engagement to apply agreed upon procedures will
be performed in accordance with the standards established by the American Institute of
Certified Public Accountants. The sufficiency of the procedures is solely the
responsibility of those parties specified in the report. Consequently, we make no
representation regarding the sufficiency of the procedures either for the purpose for
which this report has been requested or for any other purpose. If, for any reason, we
are unable to complete the procedures, we will describe any restrictions on the
pertormance of the procedures in our report, or will not issue a report as a result of this
engagement.
Because agreed-upon procedures do not constitute an examination, we will not express
an opinion but will provide recommendations as to policy and procedures to the Village.
We have no obligation to pertorm procedures beyond those specified.
We will submit a report listing the procedures performed and our findings. The report is
intended solely for the use of the parties specified in the report and should not be used
by those who did not agree to the procedures and take responsibility for the sufficiency
of the procedures for their purposes. Our report will contain a paragraph indicating that
had we pertormed additional procedures, other matters might have come to our
attention that would have been reported to you.
Mayor David B. Norris
• Village Council
The Village of North Palm Beach
Page Two
As of this date, we have not established an engagement start date; we will coordinate
the scheduling as appropriate. Nor have we estimated a total cost for the engagement,
but hourly rates are pursuant our Proposal dated December 13, 2002: Partner - $175;
Compliance Manager - $125; Director of Information Technology _ $125; Senior
Auditor - $100; and, Professional Auditing Staff - $80). Grau & Company, P.A., shall
be reimbursed only for out-of-pocket costs, such as telephone and photocopies.
Complete scheduling and cost estimate information will be documented in a separate
letter prior the commencement of the engagement. At the conclusion of our
engagement, we will require a representation letter from management that, among other
things, will confirm managements responsibility for the presentation of the areas to be
reviewed, in accordance with any pertinent established or stated criteria.
The Village shall have the right to terminate Grau & Company, P.A., at any time with or
without cause and shall only be required to pay Grau for its services down to date of
termination.
We appreciate the opportunity to assist you and believe this letter accurately
summarizes the significant terms of our engagement. Please contact us with any
enumerate these revisions in an addendum to this letter. If additional specified parties
of the report are added, we will require that they acknowledge, in writing, their
responsibility for the sufficiency of procedures.
Very truly yours,
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Antoni J. Grau, C.P.A
G:IDATA~Engagemenl Letlers~20031neAh palm inlemal autlii.tlce
RESPONSE:
This letter correctly sets ~th the understanding of the Village of North Palm Beach.
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g Village of North Palm Be ch
• Signature
cc: Doug Smith, Village Manager
Shaukat Khan, Finance Director
at_~i~'
Dat-~
~~// Grau&Company,PA.
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