by the Comptroller General of the United States.
2. The Office shall adopt and maintain a compliance audit guide containing those fiscal laws and compliance requirements for state funds distributed to, and expended by, political subdivisions and governmental nonprofit corporations. This compliance audit guide may specify:
a. the general compliance requirements applicable to all political subdivisions and governmental nonprofit corporations, and the audit requirements applicable to general compliance requirements,
b. the format for the auditor's statement expressing positive assurance with state fiscal laws identified by the Office, and
c. those items related to internal controls and other financial issues which shall be included in the auditor's letter to management that must be filed with the Independent Auditor's Report in accordance with the compliance audit guide maintained by the Office.
3. All entities required to have an audit made by Section 51-2a-201 shall have performed the financial audit and a state compliance audit in accordance with the compliance audit guide maintained by the Office.
4. The guidelines, criteria, procedures, and reporting requirements for all accounting and compliance reports required to be submitted to the Office are posted on the Office's website.
R123-5-4. Procurement of Accounting Services.
1. Unless otherwise specified by the Office, the decision to retain an entity's auditor rests with the governing body of the entity. However, the auditor providing the accounting services must meet the peer review and continuing education requirements of Government Auditing Standards issued by the Comptroller General of the United States. In addition, the auditor must satisfy the periodic workpaper review performed by the Office. The entity must competitively procure accounting services through the following matter at least every five years:
a. The entity shall distribute a "request for proposal" to all auditors who meet the qualification criteria set by the procuring organization and who are interested in submitting a proposal for the accounting services. As a minimum, the request for proposal shall contain the following:
(i) the name and address of the entity requesting the accounting services and its designated contact person,
(ii) the entity for which the accounting services are to be performed, the scope of services to be provided, and specific reports, etc. to be delivered,
(iii) the period(s) pertaining to the accounting services,