Auditing Services: Duties and Maximum Rate Schedule

Legislative Research Commission Government Contract Review Committee

Auditing Services: Duties and Maximum Rate Schedule Adopted August 10, 1999

*Policy Statement 99-5*

It shall be the policy of the Government Contract Review Committee of the Legislative Research Commission to consider for approval, only those personal service contracts for auditing services that conform to the following description and maximum rate schedule:

Private Auditors and Auditing Firms Duties: Under general supervision, provides independent professional auditing of accounts, financial transactions, and spending of a state agency in accordance with generally accepted auditing principals and standards as a private auditor or as a principle, partner, manager, or staff within an auditing firm.

*Maximum Rate Schedule: Principle or Partner Not to exceed $125/hour Senior Auditor or Manager Not to exceed $100/hour Junior Auditor or Staff Auditor Not to exceed $75/hour

*Fees paid by an agency shall not exceed the committee's maximum rate schedule, unless required by the complexity or uniqueness of the audit, in which case, prior justification must be presented to the committee.