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APPROVED 1 1 1512 0 0 7 <br />MINUTES <br />ORANGE COUNTY BOARD OF COMMISSIONERS <br />WORK SESSION <br />October 18, 2007 <br />7:30 p.m. <br />The C7range County Board of Commissioners met for a Work Session on Thursday, <br />October 18, 2007 at 7:30 p.m. at the Link Government Services Center in Hillsborough, <br />North Carolina. <br />COUNTY COMMISSIONERS PRESENT: Chair Moses Carey, Jr., and <br />Commissioners Valerie P. Foushee, Alice M. Gordon, Barry Jacobs, and Mike Nelson <br />COUNTY COMMISSIONERS ABSENT: <br />COUNTY ATTORNEYS PRESENT: Geof Gledhill <br />COUNTY STAFF PRESENT: County Manager Laura Blackmon, Assistant County <br />Managers Willie Best and Gwen Harvey, and Clerk to the Board Donna Baker {All other <br />staff members will be identified appropriately below) <br />NOTE: ALL DOCUMENTS REFERRED TO IN THESE MINUTES ARE IN THE <br />PERMANENT AGENDA FILE IN THE CLERK'S OFFICE. <br />1. Potential Impact of Statement of Auditing Standards (SAS} 112 <br />Laura Blackmon said that this would be a discussion about changes in the audit <br />process. <br />Finance Director Ken Chavious said that last year the auditor made comments <br />about changes to came and the major one was SAS 112. The Local Government <br />Commission issued a memo regarding these changes, which was attached to the <br />abstract. Doug Beelendorf, Director of Audit & Accounting at McGladrey & Pullen, gave <br />a PowerPoint presentation. This firm is conducting the current audit, which is underway. <br />Understanding Statement on Auditing Standards No. 112, Communicating Inferno! <br />Control Related Matters Identified in an Audit (SAS 112} <br />Doug Beelendorf <br />Director, Audit & Accounting <br />When is SAS 112 Effective? <br />• SAS 112 is effective - <br />Whenever an auditor expresses an opinion an financial statements (including a <br />disclaimer of opinion) <br />For audits of financial statements for periods ending on or after December 15, <br />2006 <br />Auditing Standards Board (ASB} Goals <br />• Improve the quality of communication to the governing board and management <br />• Require auditors to communicate these matters in writing, rather than continue to <br />provide auditors with the option of communicating them orally <br />