Audit Timing
Item E1 on the tonight's (June 22) workshop agenda:
I think it's worth comparing the timing for the 2008 report versus 2007. Last year we acknowledged receipt of the CAFR and report on August 11th, and formally accepted it at the August 28th continuation of the August 25th council meeting. As our auditors dryly explained in their "communication with those charged with governance," the 2007 audit "was completed later than anticipated due to a variety of factors, including an increased level of testing in response to identified risks, assistance provided with reconciling various accounts and delays in receiving the trial balance and other audit documentation."
The audit being completed a good seven weeks earlier is one measure of how the city's operations have been recovering from the damage suffered under the previous regime.
1. Receipt and Presentation of Comprehensive Annual Financial Report (CAFR) for 2008 and Report by Auditor HLB Tautges, Redpath, LTD
I think it's worth comparing the timing for the 2008 report versus 2007. Last year we acknowledged receipt of the CAFR and report on August 11th, and formally accepted it at the August 28th continuation of the August 25th council meeting. As our auditors dryly explained in their "communication with those charged with governance," the 2007 audit "was completed later than anticipated due to a variety of factors, including an increased level of testing in response to identified risks, assistance provided with reconciling various accounts and delays in receiving the trial balance and other audit documentation."
The audit being completed a good seven weeks earlier is one measure of how the city's operations have been recovering from the damage suffered under the previous regime.
Labels: finance
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