Agenda - 06-06-2000-8i - Laserfiche WebLink

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Deloit~e ~ Touche Daloitt4 &Touche LLP Telephone: (704) 372-3560 1100 Carillon 227 West Trade Street Charlotte, North Carolina 28202-1675 May 24, 2000 . The Board of County Commissioners ' Orange County, North Carolina, We are pleased to serve as independent accountants and auditors for Orange County (the "County's for the year ending June 30, 2000. Mr. Rich Bovard will be responsible for the services that we perform for the County. He will be assisted by Mr. George Doehner, Audit Manager. Mr. Bovard will, as he considers necessary, call on other individuals with specialized knowledge, either in this office or elsewhere in our firm, to assist in the performance of our services. While auditing and reporting on the County's financial statements for the year ending June 30, 2000 is the service that we are to provide under this engagement letter, we would also be pleased to assist the County on issues as they arise throughout the year. Hence, we hope that the County will call Mr. Bovard whenever management believes he can be of assistance. This letter sets forth our understandiuig of the terms and objectives of our engagement, the nature and scope of the services we will pmvide, and the related fee arrangements. Audit of l~nancial Statements and Other Reporting We will audit the County's general purpose financial stademe~ats for the year ending June 30, 2000. In addition, we will audit the County's compliance with laws and regulations related to federal and state awards; and report on the County's Schedule of Expenditures of Federal and State Awards. Our audits will be conducted in accordance with auditing standards generally accepted in the United States of America, standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States and Office of Management, Budget Circular A 133, Audits of States, Local Governments and Non profit Organfzatlans, and the State Single Audit Implementation Act. We'will plea sad perform our audQ to obtain reasonable a.~~nr-e about whether the financial statements arc free of material misstatement, whether caused by error or fiend, and we will perform tests of the County's compliance with certain provisions of laws, regulations, contracts, and grains. However, because of the characteristics of fraud, particularly those involving concealment and falsified documentation (including forgery), a properly Planned and performed audit may not detect a material misstatement. Therefore, an audit conducted in accordance with auditing standards generally accepted in the United States of America is designed to obtain reasonable; rather than absohrte, assurance that the general purpose financial c+afiP**+~*+*~ are free of material misstateme~. An audit is not designed to detect error or fraud that is immaterial to the general purpose financial statemenrts or to detect immaterial instances of noncompliance. Deloit~Tuuche