2003 S Finance - Cherry, Bekaert & Holland, L.L.P Audit Contract for the June 30, 2003 Fiscal Year

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However, the objective of those procedures will not be to provide an opinion on overall compliance and we will not express such an opinion in our report on compliance issued pursuant to Government Auditing Standards. OMB Circular A-13 3 and the State Single Audit Implementation Act requires that we also plan and perform the audit to obtain reasonable assurance about whether the auditee has complied with applicable laws and regulations and the provisions of contracts and grant agreements applicable to major programs. Our procedures will consist of the applicable procedures described in the OMB Circular A-133 Compliance Supplement and the Compliance Supplement provided by the Local Government Commission for auditors in North Carolina for the types of compliance requirements that could have a direct and material effect of each of the County's major programs. The purpose of those procedures will be to express an opinion on the County's compliance with requirements applicable to major programs in our report on compliance issued pursuant to OMB Circulax A-133 and the State Single Audit Implementation Act. At the conclusion of the engagement, it is management's responsibility to submit the reporting package (including the basic financial statements, schedule of expenditures of federal and state awards, summary schedule of prior audit findings, auditor's reports, and corrective action plan) along with the Data collection Form to the designated federal clearinghouse and, if appropriate, topass-through entities. The Data Collection Form and the reporting package must be submitted within the earlier of 30 days after receipt of the auditor's reports or 13 months after the end of the audit period, unless a longer period is agreed to in advance by the cognizant or oversight agency for audit. Our procedures relative to compliance with laws and regulations and internal control over financial reporting are limited to those discussed herein. We would be happy to discuss our procedures with you further at your request. REPRESENTATION FROM MANAGEMENT Management is responsible for the fair presentation of the basic financial statements in conformity with accounting principles generally accepted in the United States of America, for making all fmancial records and related information available to us, and for identifying and ensuring that the entity complies with the laws and regulations applicable to its activities. Management is also responsible for adjusting the basic financial statements to correct material misstatements. Additionally, as required by OMB Circular A-133 and the State Single Audit Implementation Act, it is management's responsibilityto follow up and take corrective action on prior audit findings and to prepare a summary schedule of prior audit findings and a corrective action plan. The summary schedule of prior audit findings and the corrective action plan should be made available to us during the course of our engagement. At the conclusion of the engagement, the County's management will provide to us a representation letter that, among other things, addresses these matters and confirms certain representations made during the audit, including, to the best of their knowledge and belief, the absence of fraud involving management or those employees who have significant roles in the entity's internal control, or others where it could have a material effect on the basic basic financial statements. The representation letter will also affirm to us that management believes that the effects of any uncorrected misstatements aggregated pertaining to the current year basic basic financial statements are immaterial, both individually and in the aggregate, to the basic basic financial statements taken as a whole. COMMUNICATIONS At the conclusion of the engagement, we will provide management, in a mutually agreeable format, our recommendations designed to help the County make improvements in its internal control structure and operations, and other matters that may come to our attention (see "Responsibilities as to Internal Controls" above).