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a. The report shall: <br /> i. State whether the financial statements are presented in <br /> accordance with generally accepted accounting principles; <br /> ii. State whether such principles have been consistently observed <br /> in the current period in relation to the preceding period and if <br /> any material change has occurred to explain its effect(s) on the <br /> financial reports; <br /> iii. Contain the following county prepared financial information: <br /> (a) Government-wide financial statements and notes <br /> (b) Fund financial statements <br /> (c) Notes to the financial statements <br /> (d) Required supplementary information including <br /> budgetary comparison information <br /> (e) Management's discussion and analysis (MD&A) <br /> (f) Other statements and supplementary-information as <br /> appropriate; <br /> iv. Note any inadequacies in the information disclosures contained <br /> in the financial statements; and <br /> v. Contain an expression of opinion regarding the financial <br /> statements, taken as a whole, or an assertion to the effect that an <br /> opinion cannot be expressed. When an overall opinion cannot <br /> be expressed, the reason therefor shall be stated. In all cases <br /> where the Contract Auditor's name is associated with the <br /> financial statements, the report should contain a definite <br /> indication of the character of the Contract Auditor's <br /> examination, if any, and the degree of responsibility being <br /> taken. <br /> <br /> 3. Standards for Reporting on Compliance and on Internal and Operational <br /> Controls, Accounting Systems and Procedures, etc. <br /> With respect to compliance and internal and operational controls and <br /> accounting systems and procedures, the report shall include: <br /> -6- <br /> <br />