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File #: 21-3732   
Type: Orange County Transportation Authority Item Status: Committee Ready - Consent
File created: 10/6/2021 In control: Finance and Administration Committee
On agenda: 10/27/2021 Final action: 10/27/2021
Title: Evaluation of Independent Auditor and Consideration of Contract Amendment to Extend Audit Services through the Fiscal Year Ending June 30, 2023
Sponsors: Janet Sutter
Attachments: 1. Transmittal, 2. Staff Report, 3. Attachment A, 4. Attachment B

Title

Evaluation of Independent Auditor and Consideration of Contract Amendment to Extend Audit Services through the Fiscal Year Ending June 30, 2023

 

Overview

On January 28, 2019, the Orange County Transportation Authority Board of Directors approved an agreement with Crowe LLP, to provide independent annual financial auditing services for a three-year initial term with one, two-year option term. The Internal Audit Department has prepared an evaluation of Crowe LLP, and based on the evaluation, is recommending continuing the auditing services. Board of Directors’ approval is requested to exercise the option term effective April 1, 2022 through March 31, 2024.

Recommendation(s)

A.                     Approve draft evaluation questions and comments compiled by the Internal Audit Department for the Finance and Administration Committee.

B.                     Authorize the Chief Executive Officer to negotiate and execute Amendment No. 3 to Agreement No. C-8-1911 between the Orange County Transportation Authority and Crowe LLP, to exercise the two-year option term, in the amount of $592,200, to provide the annual financial and agreed-upon procedures audits for the fiscal years ending June 30, 2022 and 2023. This will increase the maximum obligation of the agreement to a total contract value of $1,497,861.