Florida law recognizes the importance of financial accountability by public officials. To accomplish that objective, applicable law prescribes a series of reporting and independent verification procedures to ensure that public officials accurately and fully account for the public resources entrusted to their care.
Under Section 218.39, F.S., each county and county agency, as well as municipalities and special districts meeting specified criteria, must obtain an independent financial audit performed in accordance with Chapter 10.550, Rules of the Auditor General. The term "financial audit" means "an examination of financial statements in order to express an opinion on the fairness with which they are presented in conformity with generally accepted accounting principles and an examination to determine whether operations are properly conducted in accordance with legal and regulatory requirements." Under Florida law, a local government “financial audit” also includes an examination to determine compliance with specified laws; an audit of state financial assistance, if applicable, in accordance with Section 215.97, F.S. (the Florida Single Audit Act); and the additional activities necessary to establish compliance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) with respect to federal awards and other applicable federal law.
The procurement of auditing services is further delineated the statute and the following method was followed as required by FL 218.
(e) Rank and recommend in order of preference no fewer than three firms deemed to be the most highly qualified to perform the required services after considering the factors established pursuant to paragraph (a). If fewer than three firms respond to the request for proposal, the committee shall recommend such firms as it deems to be the most highly qualified.
(4) The governing body shall inquire of qualified firms as to the basis of compensation, select one of the firms recommended by the auditor selection committee, and negotiate a contract, using one of the following methods:
(a) If compensation is not one of the factors established pursuant to paragraph (3)(a) and not used to evaluate firms pursuant to paragraph (3)(e), the governing body shall negotiate a contract with the firm ranked first