Q What should a municipality do to prepare for an audit?

A The municipality should make sure records are available and up to date, cut off any year end overlaps (tax, fine, etc. collections), define any doubtful accounts (fines, etc.), complete the property inventory as required in the Municipal Audit and Accounting Guide available through OSA’s website and depreciation records, and ask the auditor for a list of required materials and assistance. Because of the number of variables in any audit, a one size fits all approach is impossible, but the auditor performing the municipal audit will be able to provide more information on what is required.