Agenda - 05-08-2002 - 8c - Laserfiche WebLink

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2 March 25,2002 Mr. Kenneth T.Chavious,Finance Director Orange County 208 S.Common St P.O. Box 8181 Flillsborough,NC 2n7j; Dear Nlr.Chavious: This letter of armvgcmwt between the Orange Cowry will"Cowry's and Cherry, quit a i& Hement L.L.P. sets forth the patine and scopeices, servireswe will provide.the County's required involvement and assistance in support of our services, the related fee artangements aM other terms and agreed designed to assure that our professional services are perfortnetl to achieve the mutually agreed upon objectives ofthe Cowry SIIMBIARY OF SERVICES A. Financial Audits We will audit the basic financial statements of the Counryaa of and for the yearending lane 30,2002,in accordance with auditing standards generally accepted in the Unitd Sam of America;the standards for financial audits Contained in Government Andamg Standards,issued by the Comptroller Generel of the United Sates;the Single Audit Ad Ammdmmts of 1996;the provisions ofONM Chcdar A-133,"Audits of States,Loral Govemmmts aid Nan-Profit Organizations",and the Sate Single Audit Implementation Act, Our audit will include tests ofaccoundm records, admerminetiodof majarpmgmms in accordance with Circular A-133 and the Ste¢ Single Audit fplemcntaticn Act and other procedures as deemed necessarry to enable us to express such an opinion and to render the required reports.?be objective of an audit is the expression of out opinion concmning whether the basic Scandal saamwts present family, in all materiel respects, the f amial position, results of operations, and rash flows of the County in conformiry with accounting principles generally accepted in the United States ofAmetica to cowection with our audit we will report on the fairness ofpreemttadon afthe schedules of fiedersl and state financial assistance in relation to the basic financial statements taken as a whole. We also w01 perform tests of compliance an required by Government Auditing SraMards, the provisions of ONO Circular A-133,and the Sate Single Audit Implemmaticn Act,and issue our reports thereon.