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2004 S Finance - Cherry Bekaert & Holland Audit Contract for the June 30, 2004 Fiscal Year
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2004 S Finance - Cherry Bekaert & Holland Audit Contract for the June 30, 2004 Fiscal Year
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Last modified
4/14/2011 11:46:54 AM
Creation date
2/7/2011 4:37:15 PM
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BOCC
Date
5/4/2004
Meeting Type
Regular Meeting
Document Type
Contract
Agenda Item
5d
Document Relationships
Agenda - 05-04-2004-5d
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\Board of County Commissioners\BOCC Agendas\2000's\2004\Agenda - 05-04-2004
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} , ; <br />March 31, 2004 <br />Mr. Kenneth T. Chavious, Finance Director <br />Orange County <br />208 South Cameron Street <br />Hillsborough, North Carolina 27278 <br />Dear Ken: <br />This letter of arrangement between Orange County, North Carolina "the entity" and Cherry, Bekaert & Holland, L.L.P. <br />sets forth the nature and scope of the services we will provide, the entity's required involvement and assistance in <br />support of our services, the related fee arrangements and other terms and conditions designed to assure that our <br />professional services are performed to achieve the mutually agreed upon objectives of the entity. <br />SUMMARY OF SERVICES <br />We will audit the financial statements of the governmental activities, the business type activities, each discretely <br />presented component unit, each major fund, and the aggregate remaining fund information of the entity as of and for <br />the year ended June 30, 2004, which collectively comprise the entity's basic financial statements as listed in the table <br />of contents <br />Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America; <br />Governmental Auditing Standards, issued by the Comptroller General of the United States; the Single Audit Act <br />Amendments of 1996'; the provisions of OMB Circular A-133; and the State Single Audit Implementation Act, and will <br />include test of accounting records, a determination of major programs in accordance with Circular A-133 and the <br />State Single Audit Implementation Act, and other procedures as deemed necessary to enable us to express such an <br />opinion and to render the required reports. The objective of an audit is the expression of our opinion concerning <br />whether the basic financial statements are fairly presented, in all material respects, in conformity with accounting <br />principles generally accepted in the United States of America. <br />In connection with our audit, we will report on the fairness of presentation of the schedules of federal and state <br />financial assistance in relation to the financial statements taken as a whole. We will also perform tests of compliance <br />as required by Government Auditing Standards, the provisions of OMB Circular A-133, and the Audit Manual for <br />Govemmental Auditors in North Carolina, and issue our reports thereon. <br />If any of our opinions resulting from the procedures described above are other than unqualified, we will fully discuss <br />the reasons with you in advance. <br />The reports on internal control and compliance will each include a statement that the report is intended solely for the <br />information and use of the audit committee, management, specific legislative or regulatory bodies, federal and State <br />awarding agencies, and if applicable, pass-through entities and is not intended to be and should not be used by <br />anyone other than these specified parties. <br />As part of our engagement, we will prepare the financial statements and note disclosures from individual fund trial <br />balances that you will provide. However, management is responsible for the financial statements and note <br />disclosures. In your representation to us, you will be asked to acknowledge our role in this regard, and your review, <br />approval, and responsibility for the financial statements and note disclosures. <br />
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