Browse
Search
Agenda - 05-04-2004-5d
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
2000's
>
2004
>
Agenda - 05-04-2004
>
Agenda - 05-04-2004-5d
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/1/2008 11:45:40 PM
Creation date
8/29/2008 10:41:33 AM
Metadata
Fields
Template:
BOCC
Date
5/4/2004
Document Type
Agenda
Agenda Item
5d
Document Relationships
2004 S Finance - Cherry Bekaert & Holland Audit Contract for the June 30, 2004 Fiscal Year
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2004
Minutes - 20040504
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2004
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
11
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
However, our tests will be less in scope than would be necessary to render an opinion on those controls and, <br />accordingly, no opinion will be expressed in our report on internal control issued pursuant to OMB Circular A-133 and <br />the State Single Audit Implementation Act. <br />You are also responsible forthe design and implementation of programs and controls to prevent and detectfraud, and <br />for informing us about all known or suspected fraud affecting the entity involving (a) management, (b) employees who <br />have significant roles in internal control, and (c) others where the fraud could have a material effect on the financial <br />statements. You are also responsible for informing us of your knowledge of any allegations of fraud or suspected <br />fraud affecting the entity received in communications from employees, former employees, regulators, or others. <br />RESPONSIBILITIES AS TO COMPLIANCE <br />Our audit will be conducted in accordance with the standards referred to in the section Summary of Services, As part <br />of obtaining reasonable assurance aboutwhether the basic financial statements are free of material misstatement, we <br />will perform tests of the entity's compliance with applicable Taws and regulations and the provisions of contracts and <br />agreements, including grant agreements. However, the objective of those procedureswill not be to provide an opinion <br />on overall compliance and we will not express such an opinion in our report on compliance issued pursuant to <br />Government Auditing Standards, <br />OMB CircularA-133 and the State Single Audit Implementation Act requires thatwe also plan and perform the audit to <br />obtain reasonable assurance about whether the entity has complied with applicable laws and regulations and the <br />provisions of contracts and grant agreements applicable to major programs.. Our procedures will consist of the <br />applicable procedures described in the OMB Circular A-133 Compliance Supplement and the Audit Manual for <br />Governmental Auditors in North Carolina for the types of compliance requirements that could have a direct and <br />material effect of each of the entity's major programs.. The purpose of those procedures will be to express an opinion <br />on the entity's compliance with requirements applicable to major programs in our report on compliance issued <br />pursuant to OMB Circular A-133 and the State Single Audit Implementation Act. <br />REPRESENTATION FROM MANAGEMENT <br />Management is responsible for the fair presentation of the basic financial statements in conformity with accounting <br />principles generally accepted in the United States of America, for making all financial records and related information <br />available to us, and for identifying and ensuring that the entity complies with the laws and regulations applicable to its <br />activities. Management is also responsible for adjusting the financial statements to correct material misstatements.. <br />Additionally, as required by OMB Circular A-133 and the State Single Audit Implementation Act, it is management's <br />responsibility to follow up and take corrective action on prior audit findings and to prepare a summary schedule of <br />prior audit findings and a corrective action plan. The summary schedule of prior audit findings and the corrective <br />action plan should be made available to us during the course of our engagement. Management, at the conclusion of <br />the engagement, will provide to us a representation letter that, among other things, addresses these matters and <br />confirms certain representations made during the audit, including, to the best of their knowledge and belief, the <br />absence of fraud involving management or those employees who have significant roles in the entity's internal control, <br />or others where it could have a material effect on the basic financial statements. The representation letter will also <br />affirm to us that management believes that the effects of any uncorrected misstatements aggregated pertaining to the <br />current year financial statements are immaterial, both individually and in the aggregate, to the financial statements <br />taken as a whole. <br />COMMUNICATIONS <br />At the conclusion of the engagement, we will provide management, in a mutually agreeable format, our <br />recommendations designed to help the entity make improvements in its intemal control stmcture and operations, and <br />other matters that may come to our attention (see "Responsibilities as to Internal Controls" above). As part of this <br />engagement we will ensure that certain additional matters are communicated to the appropriate members of <br />management and to the elected officials of the entity. <br />
The URL can be used to link to this page
Your browser does not support the video tag.