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5 <br /> LGC-205 Form A CONTRACT TO AUDIT ACCOUNTS Rev.02/2026 <br /> 14. In accordance with G.S. 159-34, the Finance Officer of the Unit is responsible for filing the audited <br /> financial statements with the Secretary of the Local Government Commission. <br /> The Auditor may upload the audit report and related documents through the LGC's electronic submission <br /> system; however, submission shall not be deemed complete until the Finance Officer has reviewed and certified <br /> the submission. <br /> The Auditor, Finance Officer, other Unit staff member designated by the Finance Officer, or a third party <br /> approved by the Unit may enter all Data Input Report information except the information on the "transmittal doc <br /> info" tab. The "transmittal doc info" tab must be completed by the Auditor. <br /> The Finance Officer shall review, approve, and certify the accuracy and completeness of the Data Input Report <br /> (DIR) in the LGC's LOGOS system prior to LGC review, regardless of whether the DIR is prepared by the <br /> Auditor or the Unit. <br /> Finance Officer certification is required for any corrected or revised submissions. <br /> Finance Officer certification of the DIR shall be completed in a timely manner following notification that the DIR <br /> is ready for review and within time frames prescribed by the LGC. Failure to complete certification in a timely <br /> manner may result in the audit being considered late due to unit action rather than auditor performance <br /> The Auditor shall conduct the audit in accordance with generally accepted auditing standards and shall ensure <br /> that the financial statements are prepared in accordance with generally accepted accounting principles as of the <br /> fiscal year end. Budget-to-actual comparisons at the level of the legally adopted budget ordinance shall be <br /> presented in required supplementary information, separate from the basic financial statements, and shall not be <br /> included in the audit opinion. The Auditor shall confirm that such information reconciles to the financial <br /> statements and is consistent with applicable accounting guidance and any LGC reporting requirements. <br /> The Finance Officer shall certify in a timely manner that all data inputted in LOGOS used for preparation of the <br /> financial statements and required supplementary information is complete and accurate. <br /> For audits of units other than hospitals, the audit report should be submitted when (or prior to) submitting the <br /> final invoice for services rendered. The report of audit, as filed with the Secretary of the LGC, becomes a matter <br /> of public record for inspection, review and copy in the offices of the LGC by any interested parties. Any <br /> subsequent revisions to these reports shall be sent to the Secretary of the LGC. These audited financial <br /> statements, excluding the Auditors' opinion, may be used in the preparation of official statements for debt <br /> offerings by municipal bond rating services to fulfill secondary market disclosure requirements of the Securities <br /> and Exchange Commission and for other lawful purposes of the Governmental Unit(s) without requiring consent <br /> of the Auditor. If the LGC Staff determines that corrections need to be made to the Governmental Unit's (Units') <br /> financial statements and/or the compliance section, those corrections shall be provided within three business <br /> days of notification unless another deadline is agreed to by LGC Staff. <br /> Page 4 <br />