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2006 S Finance - Audit Contract for the June 30, 2006 Fiscal Year
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2006 S Finance - Audit Contract for the June 30, 2006 Fiscal Year
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Last modified
5/4/2011 9:16:13 AM
Creation date
8/26/2010 2:26:10 PM
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BOCC
Date
5/16/2006
Meeting Type
Regular Meeting
Document Type
Contract
Agenda Item
5i
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Agenda - 05-16-2006-5i
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\Board of County Commissioners\BOCC Agendas\2000's\2006\Agenda - 05-16-2006
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RESPONSIBILITIES AS TO COMPLIANCE <br />Our audit will be conducted in accordance with the standards referred to in the section Summary of <br />Services. As part of obtaining reasonable assurance about whetherthe financial statements are free <br />of material misstatement, we will perform tests of the entity's compliance with applicable laws and <br />regulations and the provisions of contracts and agreements, including grant agreements. However, <br />the objective of those procedures will not be to provide an opinion on overall compliance and we will <br />not express such an opinion in our report on compliance issued pursuant to Government Auditing <br />Standards. <br />REPRESENTATION FROM MANAGEMENT <br />Management is responsible for the fair presentation of the financial statements in conformity with <br />accounting principles generally accepted in the United States of America, for making all financial <br />records and related information available to us, and for identifying and ensuring that the entity <br />complies with the laws and regulations applicable to its activities. Management is also responsible <br />for adjusting the financial statements to correct material misstatements. Management, at the <br />conclusion of the engagement, will provide to us a representation letter that, among other things, <br />addresses these matters and confirms certain representations made during the audit, including, to <br />the best of their knowledge and belief, the absence of fraud involving management or those <br />employees who have significant roles in the entity's intemal control, or others where it could have a <br />material effect on the financial statements. The representation letter will also affirm to us that <br />management believes that the effects of any uncorrected misstatements aggregated pertaining to <br />the current year financial statements are immaterial, both individually and in the aggregate, to the <br />financial statements taken as a whole. <br />Cherry, Bekaert & Holland, L.L.P. will rely on the entity's management providing these <br />representations to us, both in the planning and performance of the audit, and in considering the fees <br />that we will charge to perform the audit. <br />COMMUNICATIONS <br />At the conclusion of the engagement, we will provide management, in a mutually agreeable format, <br />our recommendations designed to help the entity make improvements in its intemal control structure <br />and operations, and other matters .that may come to our attention (see "Responsibilities as to <br />Internal Controls" above). <br />As part of this engagement we will ensure that certain additional matters are communicated to the <br />appropriate members of management and the Board of County Commissioners. Such matters <br />include (1) our responsibility under auditing standards generally accepted in the United States of <br />America; (2) the initial selection of and changes in significant accounting policies and their <br />application; (3) our independence with respect to the entity; (4) the process used by management in <br />formulating particularly sensitive accounting estimates and the basis for our conclusion regarding <br />the reasonableness of those estimates; (5) audit adjustments that could, in our judgment, either <br />individually or in the aggregate be significant- to the financial statements or our report; (6) any <br />disagreements with management concerning a financial accounting, reporting or auditing matterthat <br />could be significant to the financial statements; (7) our views about matters that were. the subject of <br />management's consultation with other accountants about auditing and accounting matters; (8) major <br />issues that were discussed with management in connection with the retention of our services, <br />including, among other matters, any discussions regarding the application of accounting principles <br />and auditing standards; and (9) serious difficulties that we encountered in dealing with management <br />related to the performance of the audit. <br />
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