RES 181 Draft 01 1996-1998 - Laserfiche WebLink

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s t various funds. An example of such a schedule is the schedule of capital improvement projects-- appropriations, allotments, expenditures and encumbrances. Additional financial statements or schedules which are determined to be necessary by the County Legislative Auditor shall also be prepared. Those financial statements delineated under Item II.C.2.a.iii shall be prepared by the Department of Finance. iv. Note any inadequacies in the information disclosures contained in the financial statements; and v. Contain an expression of opinion regarding the financial statements, taken as a whole, or an assertion to the effect that an opinion cannot be expressed. When an overall opinion cannot be expressed, the reason therefor shall be stated. In all cases where the Contract Auditor's name is associated with the financial statements, the report should contain a definite indication of the character of the Contract Auditor's examination, if any, and the degree of responsibility being taken. 3. Standards for Reporting on Compliance and on Internal and Operational Controls, Accounting Systems and Procedures, etc. With respect to compliance and internal and operational controls and accounting systems and procedures, the report shall include: a. Statements of the scope and objectives of the compliance testing and systems and procedures examination; b. An explanation of any violation of Federal, State and County statues, regulations or requirements, including details of the instances of noncompliance, and any expenditure not in accordance with the purposes for which they were appropriated; c. An evaluation of the adequacy and effectiveness of the systems of internal and operational records, forms, policies and procedures, financial reporting and budgetary controls; d. All significant findings of weaknesses and inadequacies in the internal operating controls, accounting and reporting systems and procedures disclosed as a result of the audit; -7-