HomeMy WebLinkAboutBaird & Company
Augusta Richmond GA
DOCUMENTNAME:t)a.i v-cl ~ (.o,rYIFnj
DOCUMENT TYPE: COh tvac%s
YEAR: J q(1 ~
BOX NUMBER: 5'
FILE NUMBER: 191 q i-f
NUMBER OF PAGES:
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CONTRACT AMENDMENT
The folloWing shall amend the contract entered into between Baird & Company (hereinafter
"Baird") and the Augusta-Richmond County Commission-Council (hereinafter "Commission")
October 3, 1996 (hereinafter "October Contract"). On or about August 5, 1997 the Commission
reinstated the October Contract. See in this regard the Settlement Agreement and Release between
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Baird and: the Commission dated fl'l4Ul-t (1' , 199'8. Said Settlement Agreement and Release and
its terms :ire expressly incorporated herein.
Ai of August 6, 1997 Baird resumed perfonning internal auditing for the Commission. Baird
shall continue to perform the services of the Commission's Internal Audit Department for the period
beginning August 6, 1997 through December 31, 1998 pursuant to the terms of this contract
amendment. This contract amendment shall remain in force until December 31,1998. Either the
Commission or Baird may terminate the contract amendment upon giving 60 days written notice to
the other party. In this regard, Baird should contact the Augusta-Richmond County Administrator
and the Commission should contact Mr. 1. T. Cosnahan. Such cancellation of the contract by the
Commission must be by a majority vote of the Commission and may not be made before January 1,
1998. In tl~e event the Commission cancels this contract amendment, the Commission shall not hire
Cherry, B,ekaert & Holland, L.L.P., Kent M. Plowman, Jr., individually or Kent M. Plowman, Jr.,
P.C., to perform internal auditing services or any services pertaining to internal auditing for the
Commission.
Baird will plan and determine the nature, timing and extent of internal audit procedures. The
Commission will approve Baird's plan and make any changes deemed appropriate. The selection of
locations and departments to be audited will be determined and prioritized according to those which
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Baird believes offer the best chance for a tangible return on the time required. Baird will discuss its
plans, strntegies and results with the audit committee for their approval. In establishing the schedule
of departments and activities to be audited, the major considerations will be the importance of each
activity, the total number of activities to review, the total time estimated to perform the audit and the
period of time since the last audit. In addition, Baird will perform surprise audits which are designed
to review records and activities of which time may be of essence.
Even though planning and scheduling the audit procedure is the critical component to a cost
effective audit department, the following types of incidents may occur which will delay scheduled
audit proeedures:
· Unexpected and unplanned work that is necessary when a large loss situation or an
employee defalcation is detected.
· Specific requests for audits from elected officials.
· Anonymous information or tips that indicate the possibility of a problem.
· Investigation of reports received from EthicsLine.
Baird will provide monthly reports to the audit committee.
Baird has budgeted an average of 350 professional audit hours per month. The fee for the
services is $15,000 per month plus actual out of pocket costs. The out of pocket costs will include
trave~ audit supplies, equipment/software, telephone, postage, and specialized training. The monthly
expenses will not exceed $1,000 unless approved by the audit committee. To prevent an economic
reduction from inflation, Baird will increase its fee each August 1 by the average annual percentage
of employee salary increase not to exceed five percent each. Invoices will be rendered monthly and
are payabll~ upon presentation.
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APPROVED:
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~;NAHAN
BAIRD & COMPANY
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DAVID E. HUDSON
Georgia Bar No. 374450
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N. SHANNON GENTRY --
Georgia Bar No. 289904
Attorneys, for Baird & Company
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Augusta-. ond County Commission-
Council, Chairperson-Mayor
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WfLL~S
Georgia Bar No.
Attorney for Augusta-Richmond County
Commission-Council
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