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9 <br /> 1 Slide #11 <br /> Orange County,North Carolina <br /> Required Communications <br /> Significant Accounting Policies <br /> Management is responsible for the selection and use of appropriate accounting policies. <br /> The significare accounting policies used by the County are described in(Note 1 to the basic f nancial state ments. <br /> During the current yea r,the County was required to implement the provisions of GASB Statement No.IW. <br /> Accounting Changes and Error Corrections;this new standard did not have an impact on the County. <br /> The policies used by the County are in accordance with generally accepted accounting principles. <br /> In conslderingthe qualitative aspects of Its poll cles,the County is not Involved In any controversial or emerging <br /> issues for which guidance is not available. <br /> Management Judgment/Accounting Estimates <br /> Accounting estimates are an integral part of the financial statements prepared by management and are based on <br /> managemenrs knowledge and experience about past and current events and a ss u mptlons a bout future events. <br /> The County uses various estimates as part of its financial reporting process-includ i ng actuarial assumptions. <br /> Auditor's Viscuswon&Ar+alyws{Aa&A) <br /> 2 Juna 30.2024 <br /> 3 <br /> 4 Slide #12 <br /> >4f <br /> Orange County,North Carolina <br /> Re uired Communications Continued <br /> Relationship with Management <br /> We received full cooperation from the Countys management and staff. <br /> There were no disagreememswith management on accounting issues or financial reporting matters. <br /> Management Representation <br /> We requested,and received,written representations from management relating to the accuracy of Information <br /> included in the financial statements and the completeness and accuracy of various information requested by us. <br /> • Consultation with other Accountants <br /> To the best of our knowledge,management has not consulted with,or obtained opinions from,other independent <br /> accountants during the year,nor did we face any issues requiring outside consultation. <br /> Significant Issues Discussed with Management <br /> There were no significant issues discussed with management related to business conditions,plans,or strategies <br /> that may have affected the risk of material misstatement of the Financial statements. <br /> Auditor's Discussion&Analysis(AD&A) <br /> June 30,2024 <br /> 5 <br /> 6 <br /> 7 <br /> 8 <br />