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 (Both GAS-ONLY and A-133 Audits)
 

(Both GAS-ONLY and A-133 Audits)

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     (Both GAS-ONLY and A-133 Audits) (Both GAS-ONLY and A-133 Audits) Document Transcript

    • (May 2008) (Both GAS-ONLY and A-133 Audits) REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS School Board __________________ School District No. _____ ____________________ , South Dakota We have audited the financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the __________________ School District No. _____, South Dakota (School District), as of June 30, 2008 (and 2007), and for (each of) the year(s) then ended which collectively comprise the School District’s basic financial statements and have issued our report thereon dated ________________, 2008 (2009) which was (qualified) (adverse) because [DESCRIBE ANY DEPARTURE FROM THE STANDARD REPORT, SUCH AS A QUALIFIED OPINION (GIVING THE REASON AND IDENTIFYING THE AFFECTED OPINION UNIT(S), A MODIFICATION AS TO CONSISTENCY BECAUSE OF A CHANGE IN ACCOUNTING PRINCIPLE, OR A REFERENCE TO THE REPORT OF OTHER AUDITORS.] ______________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. (COMPLETE THE FOLLOWING SIX PARAGRAPHS IF SIGNIFICANT DEFICIENCIES ARE NOTED IN THE REPORT.) Internal Control Over Financial Reporting In planning and performing our audit, we considered the School District’s internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the School District’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the School District’s internal control over financial reporting. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. However, as discussed below, we identified certain deficiencies in internal control over financial reporting that we consider to be significant deficiencies. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the School District’s ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the School District’s financial statements that is more than inconsequential will not be prevented or detected by the School District’s internal control.
    • (May 2008) We consider the deficiencies described in the accompanying Schedule of Current Audit Findings and Questioned Costs as items (USE THIS SENTENCE IF A SINGLE AUDIT WAS PERFORMED, IF NOT, USE THE FOLLOWING SENTENCE.) (IF NOT A SINGLE AUDIT USE THE FOLLOWING) We consider the deficiencies described in the accompanying Schedule of Current Audit Findings as items _________________________________________________________________________________ _________________________________________________________________________________ _________________________________________________________________________________ (LIST RELATED RECOMMENDATION REFERENCE NUMBERS) to be significant deficiencies in internal control over financial reporting. (NOTE: Where an audit finding relates to both internal control over financial reporting and to compliance, such finding should be referred to in both sections of this report; however, the reporting in one section of the report or Schedule may be in summary form with a reference to a detailed reporting in the other section.) A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected by the School District’s internal control. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies and, accordingly, would not necessarily disclose all significant deficiencies that are also considered to be material weaknesses. However, we believe that none of the significant deficiencies described above is a material weakness. (IF ONE OR MORE OF THE SIGNIFICANT DEFICIENCIES ARE CONSIDERED TO BE MATERIAL WEAKNESSES, DELETE THE PRECEDING SENTENCE AND INCLUDE THE REST OF THIS PARAGRAPH. IF NO MATERIAL WEAKNESSES ARE TO BE REPORTED, DELETE THE REST OF THIS PARAGRAPH.) However, of the significant deficiencies described above, we consider item(s) _______________________________________________________________________________ _______________________________________________________________________________ (LIST RELATED FINDING/RECOMMENDATION REFERENCE NUMBERS) to be (a) material weakness(es). (IF NO SIGNIFICANT DEFICIENCIES ARE REPORTED, DELETE THE PRECEDING SIX PARAGRAPHS AND INSERT THE FOLLOWING FOUR PARAGRAPHS.) Internal Control Over Financial Reporting In planning and performing our audit, we considered the School District’s internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the School District’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the School District’s internal control over financial reporting. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the School District’s ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the School District’s financial statements that is more than inconsequential will not be prevented or detected by the School District’s internal control. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected by the School District’s internal control.
    • (May 2008) Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above. Compliance and Other Matters As part of obtaining reasonable assurance about whether the School District’s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, (and) contracts and grant agreements, (DELETE REFERENCE TO GRANTS IF NOT AN A-133 AUDIT AND GRANTS ARE NOT MATERIAL TO AN OPINION UNIT) noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed (no) instances of noncompliance or other matters that are required to be reported under Government Auditing Standards (which are described in the accompanying Schedule of Current Audit Findings and Questioned Costs) [USE IF AN A-133 AUDIT] (which are described in the accompanying Schedule of Current Audit Findings) [USE IF A GAS-ONLY AUDIT] as item(s) ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ (LIST RELATED RECOMMENDATION REFERENCE NUMBERS. HOWEVER, IF NO INSTANCES OF NONCOMPLIANCE ARE REPORTED, THEN DELETE ALL OF THE PRECEDING SENTENCE AFTER “GOVERNMENT AUDITING STANDARDS.”) [NOTE: The referenced findings should include reportable: (a) instances of noncompliance; and (b) fraud or abuse that is not the result of a significant deficiency (See paragraphs 4.15 and 4.29). The “Note” in the internal control section of this example report further discusses the presentation of findings and auditee responses.] [NOTE: Use the following paragraph if the entity responds to the written findings.] __________ School District’s response(s) to the findings identified in our audit are described (in the accompanying Schedule of Current Audit Findings and Questioned Costs) [USE IF A-133 AUDIT] (in the accompanying Schedule of Current Audit Findings) [USE IF A GAS-ONLY AUDIT]. We did not audit the School District’s response(s) and, accordingly, we express no opinion on it (them). We (also) noted certain (additional) matters that we reported to management of the School District in a separate communication dated _________________, 2008 (2009). (COMPLETE THIS LAST SENTENCE ONLY IF APPLICABLE AND INSERT THE DATE ON WHICH THE MANAGEMENT LETTER WAS DISCUSSED WITH OFFICIALS. NOTE – USE “ALSO” AND “ADDITIONAL” IF WE HAVE ANY SPECIFIC FINDINGS REFERENCED IN THE THIS OPINION LETTER.) This report is intended solely for the information and use of the South Dakota Legislature, state granting agencies, and the governing board and management of the __________________ School District No. _____, South Dakota and is not intended to be and should not be used by anyone other than these specified parties. However, as required by South Dakota Codified Law 4-11-11 this report is matter of public record and its distribution is not limited. (USE THIS OPTION IF THIS IS NOT AN A-133 SINGLE AUDIT.) OR
    • (May 2008) This report is intended solely for the information and use of federal awarding agencies and pass-through entities, the South Dakota Legislature, state granting agencies, and the governing board and management of the __________________ School District No. _____, South Dakota and is not intended to be and should not be used by anyone other than these specified parties. However, as required by South Dakota Codified Law 4-11-11 and OMB Circular A-133 §__.320, this report is matter of public record and its distribution is not limited. (USE THIS OPTION IF THIS IS AN A-133 SINGLE AUDIT.) Martin L. Guindon, CPA Auditor General ______________________, 2008 (2009)