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City of Little Canada Contract for Auditing Services Page 5 If you request additional nonaudit services at anytime during the engagement, the following provisions would apply: • Management is responsible for the substantive outcomes of the work and, therefore, has a responsibility to be in a position in fact and appearance to make an informed judgment on the results of the nonaudit service. • Management is responsible for establishing and monitoring the performance of the nonaudit service to ensure that it meets managements' objectives. • Management is responsible for making any decisions that involve management functions related to the nonaudit service and accepts full responsibility for such decisions. • Management is responsible for evaluating the adequacy of the services perforrued and any findings that result. Audit Administration, Fees and Other We understand that your employees will prepare all cash or other confirmations we request and will locate any invoices selected by us for testing. The audit documentation for this engagement are the property of HLB Tautges Redpath, Ltd. and constitute confidential information. However, we may be requested to make certain audit documentation available to certain regulators or grantor agencies pursuant to authority given to it by law or regulation. If requested, access to such audit documentation will be provided under the supervision of HLB Tautges Redpath, Ltd. personnel. Furthermore, upon request, we may provide photocopies of selected audit documentation to regulators or grantor agencies. The regulator or grantor agency may intend, or decide, to distribute the photocopies of information contained therein to others, including other governmental agencies. Our fee for these services will be at our standard government audit hourly rates plus out -of- pocket costs (such as report reproduction, typing, postage, travel, copies, telephone, etc.) except that we agree that our gross fee, including expenses, will not exceed the following: Financial and state legal compliance audits $20,450 GASB 34 financial statement preparation implementation assistance $3,500 Our hourly rates vary according to the degree of responsibility involved and the experience level of the personnel assigned to your audit. Our invoices for these fees will be rendered 538937.1