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IP71 POTTER&COMPANY CERTIFIED PUBLIC ACCOUNTANTS INDEPENDENT AUDITORS' REPORT To the Board of Directors Cabarrus County Tourism Authority d/b/a Cabarrus County Convention and Visitors Bureau Concord, North Carolina Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities and the major fund of Cabarrus County Tourism Authority d/b/a/ Cabarrus County Convention and Visitors Bureau, as of and for the year ended June 30, 2016, which collectively comprise the Bureau's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. Tile procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Attachment number 1 \n 434 Copperfield Boulevard NE,Suite A ■ Concord, NC 28025 ■ 704.786.8189 ■ 704.786.4447 fax ■ www.gotopotter.com 1-5 Page 146