Agenda - 05-16-2006-5i - Laserfiche WebLink

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However, our tests will be less in scope than would be necessary to render an opinion on those controls and, accordingly, no opinion will be expressed in our report on internal control issued -~ pursuantto OMB Circular A-133 and the State Single Audit Implementation Act. You are also responsible forthe design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the County involving (a) management, (b) employees who have significant roles in internal control, and (c) others where the fraud could have a material effect on the financial statements. You are also responsible for informing us of your knowledge of any allegations of fraud or suspected fraud affecting the County received in communications from employees, former employees, regulators, or others,. RESPONSIBILITIES AS TO COMPLIANCE Our audit will be conducted in accordance with the standards referred to in the section Summary of Services. As part of obtaining reasonable assurance about whether the basic financial statements are free of material misstatement, we will perform tests of the County's compliance with applicable laws and regulations and the provisions of contracts and agreements, including grant agreements. 1-lowever, 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 pursuantto Government Auditing Standards.. OMB Circular A-133 and the State Single Audit Implementation Act require 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 Audit Manual for Governmental 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 pursuantto OMB Circular A-133 and the State Single Audit Implementation Act. REPRESENTATION FROM MANAGEMENT Management is responsible for the fair presentation of the basic financial statements inconformity with accounting principles generally accepted in the United States of America, for making all financial records and related information available to us, and for identifying and ensuring that the County complies with the laws and regulations applicable to its activities. Management is also responsible for adjusting the financial statements to correct material misstatements. Additionally, as required by OM6 CircularA-133 and the State Single Audit Implementation Act, it is management's responsibility to 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. Management, at the conclusion of the engagement, 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 County's internal control, or others where it could have a material effect on the 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 yearfinancial statements are immaterial, both individually and in the aggregate, to the financial statements taken as a whole.. Cherry, Bekaert & Holland, L.L.P. will rely on the County's management providing these representations to us, both in the planning and performance of the audit, and in considering the fees that we will charge to perform the audit.