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Agenda - 12-01-1998 - 10c
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Agenda - 12-01-1998 - 10c
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8/10/2009 12:29:54 PM
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BOCC
Date
12/1/1998
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
10c
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Minutes - 19981201
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\Board of County Commissioners\Minutes - Approved\1990's\1998
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Deloitte & <br />Touche <br />Deloitte &Touche LLP Telephone: (919) 546-8000 <br />~ Suite 1800 Telex: 4995716 <br />First Union Capitol Center Facsimile: (919) 833-3276 <br />150 Fayetteville Street Mall <br />P.O. Box 2778 <br />Raleigh, North Carolina 27602-2778 <br />October 2, 1998 <br />The Board of County Commissioners <br />Orange County, North Carolina <br />In planning and performing our audit of the general purpose financial statements of Orange County <br />for the year ended June 30, 1998 (on which we have issued our report dated October 2, 1998), we <br />considered its internal control in order to determine our auditing procedures for the purpose of <br />expressing an opinion on the financial statements and not to provide assurance on the Company's <br />internal control. Such consideration would not necessarily disclose all matters in the Company's <br />internal control that might be material weaknesses under standards established by the American <br />Institute of Certified Public Accountants. A material weakness is a condition in which the design <br />or operation of one or more of the internal control components does not reduce to a relatively low <br />level the risk that misstatements caused by error or fraud in amounts that would be material in <br />relation to the financial statements being audited may occur and not be detected within a timely <br />period by employees in the normal course of performing their assigned functions. We noted no <br />matters involving the Company's internal control and its operations that we consider to be material <br />weaknesses as defined above. <br />We did note other matters related to the Company's internal control and certain other accounting or <br />administrative matters. Our principal observations and recommendations are summarized below. <br />MANAGEMENT SUPERVISION AND REVIEW <br />Journal entries made by Finance Department staff were not properly reviewed and approved by the <br />appropriate level of Finance Department management. The lack of approval appeared to be <br />isolated to a specific period of occurrence, the majority of findings during the month of May 1998. <br />These entries should be subject to review throughout the month, rather than only at month end to <br />ensure the consistent and proper recording of County journal entries throughout the year. <br />PURCHASING <br />The Finance Department and Purchasing Department both retain copies of the Application and <br />Certificate for Payment for all County purchases requiring purchase orders. During the current <br />fiscal year, for a specific contractor, an overpayment occurred. The contractor refunded a portion <br />of this overpayment, and retained the remaining payment for work to be performed. These <br />activities were all handled and maintained through the Purchasing Department. This information <br />DeloltteTouche <br />Tohmatsu <br />
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