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FORMAL REQUIRED COMMUNICATIONS <br /> <br />Statement on Auc~iting Standards Number 61, "Communication With Audit Committees," requires the <br />auditor to ensure ~hat certain matters related to the conduct of an audit are communicated to those who <br />have responsibility, for oversight of the financial reporting process. This is required for audits of financial <br />statements for periods beginning on or after January 1 1989. This letter constitutes our communication <br />of such matters. ! ' <br /> <br />THE AUDITOR'S ~ESPONSIBIL1TY UNDER GENERALLY ACCEPTED AUDITING STANDARDS <br /> <br />Generally accepte~ auditing standards require auditors to plan and perform audits to obtain reasonable, <br />but not absolute, ~Ssurance about whether the financial statements are free of material misstatement. An <br />audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial <br />statements. An audit also includes assessing the accounting principles used and significant estimates made <br />by management, ag well as evaluating the overall financial statement presentation. <br /> <br />SIGNIFICANT ACC~)UNTING POLICIES <br /> <br />There were no chahges in significant accounting policies or their application during the year audited. <br /> <br />DISAGREEMENTS 'WITH MANAGEMENT <br />We have no disagreements with management concerning the application of accounting principles, <br />accounting estimates, the scope of the audit, disclosures in the financial statements, wording of the <br />auditor's report, o~ any other matter significant to the City's general purpose financial statements. <br /> <br />DIFFICULTIES ENCOUNTERED IN PERFORMING THE AUDIT <br /> <br />We encountered no difficulties in dealing with management relating to the performance of the audit. <br /> <br />-11- <br /> <br /> <br />