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6 <br /> • 120+ special purpose entities (stand-alone business type entities, <br /> libraries, etc.) <br /> • Engagement Team Leaders for Orange County <br /> o Joel Black, Engagement Partner <br /> o James Bence, Audit Services Partner <br /> o Adam Fraley, Quality Review Partner <br /> Results of 2016 Audit <br /> • Our Responsibility Under Auditing Standards Generally Accepted in the United States <br /> of America (GAAS) and Government Auditing Standards (GAS) <br /> o They considered the internal control structure for the purpose of expressing our <br /> opinion on the County's basic financial statements and not providing assurance <br /> on the internal control structure. <br /> o Our audit was performed in accordance with GAAS and GAS. <br /> o Our objective is to provide reasonable—not absolute—assurance that the basic <br /> financial statements are free of material misstatement. <br /> o We did not audit the financial statements of the Orange County ABC Board. We <br /> reviewed and relied on the report of other auditors for amounts included in the <br /> County's statements related to the ABC Board. <br /> o The basic financial statements are the responsibility of the County's <br /> management. <br /> • Report on 2016 Basic Financial Statements <br /> o Unmodified ("clean") opinion on basic financial statements. <br /> o Presented fairly in accordance with accounting principles generally accepted in <br /> the United States of America. <br /> o Our responsibility does not extend beyond financial information contained in our <br /> report. <br /> • Report on 2016 Single Audit <br /> o Unmodified ("clean") opinion on compliance for 2 major federal programs tested <br /> in accordance with Title 2 U.S. CFR Section 200 and 1 major state program (in <br /> conjunction with 1 of the major federal programs) tested in accordance with the <br /> State Single Audit Implementation Act. <br /> Commissioner Rich asked if there is a reason that the ABC Board is not audited. <br /> Joel Black said the ABC Board hires its own auditors, and he is not sure for the reason <br /> behind this. He said he received the numbers from the ABC Board's auditors, and relies on <br /> these numbers in their report. <br /> Commissioner Rich asked if the ABC Board auditor or the County is responsible for the <br /> ABC Board numbers. <br /> Joel Black said ultimately the ABC Board is responsible for its numbers, but because <br /> the numbers are a component of the County audit, the County is also somewhat responsible. <br /> John Roberts said the County does not audit the ABC Board because it is a state <br /> agency and is not part of county government. <br /> • Significant Accounting Policies <br />