Town Switches Auditing Firm

The Town of Smithfield has hired a new auditing firm.

Petway, Mills and Pearson, P.A. has performed the annual audit since 2012.  Last year, members of the town council expressed interest in placing the financial audit contract out to bid.

During a review of the bids this month, the town board selected Thompson, Price, Scott, Adams & Co., P.A. (TPSA) to perform the audit starting this year.

Smithfield Finance Director Greg Siler said TPSA was not the lowest bidder but their experience and qualifications were exemplary.  TPSA has performed the audit for the County of Johnston since 2003.

TPSA will charge $22,750 per year for the 2017 audit.  Petway, Mills and Pearson had submitted a bid $23,000. They had charged $25,000 last year.

The lowest bidder was $21,000 but was not selected.