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<br />1 <br /> <br /> <br />n <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />material effect on each major program in accordance with the Single Audit Act Amendments of <br />1996 and OMB Circular A-133,. Audit of States, Local Governments, -and Non-Profit <br />Organizations. <br />The reports on internal control and compliance will each include a statement that the report is <br />intended solely for the information and use of management, the body or individuals charged with <br />governance, others within the entity specific legislative or regulatory bodies, federal awarding <br />agencies, and if applicable, pass-through entities and is not intended to be and should not be used <br />by anyone other than these specified parties. <br />Our audit will be conducted in accordance with U.S. generally accepted auditing standards <br />established by the Auditing Standards Board (United States); and the, standards for financial <br />audits contained in Government Auditing Standards, issued by the Comptroller General of the <br />United States; the Single Audit Act Amendments of 1996; and the provisions of OMB Circular <br />A-133, and will include tests of the accounting records, a determination of major program(s) in <br />accordance with OMB Circular A-133, and other procedures we consider necessary to enable us <br />to express such opinion and to render the required reports. If our opinion on the financial <br />statements or the Single Audit compliance opinion is other than unqualified, we will, fully <br />discuss the reasons with you in advance. If, for any reason, we are unable to complete the audit <br />or are unable to form or have not formed an opinion, we may decline to express an opinion or to <br />issue a report as a result of this engagement. <br />Management Responsibilities <br />Management is responsible for the basic financial statements and all accompanying information <br />as well as all representations contained therein. As part of the audit, if we prepare a draft of your <br />financial statements, schedule o£ expenditures of federal and State awards,. and related notes, you <br />are responsible for making all management decisions and petforning all management functions <br />relating to the financial statements, schedule of expenditures of federal and -State awards, and <br />related notes and for accepting full responsibility far such decisions. You will be required to <br />acknowledge in the management representation letter that you have reviewed and approved the <br />financial statement, schedule of expenditures of federal and State awards, and related notes prior <br />to their issuance and have accepted responsibility for them. Further; you are responsible for <br />designating an individual- with suitable skill, knowledge, or experience to oversee any nonaudit <br />services we provide and for evaluating the adequacy and results of those services and accepting <br />responsibility for them. <br />Management is responsible for establishing and maintaining internal controls, including <br />monitoring ongoing activities; for the selection and application of accounting principles; for the <br />fair presentation in the financial statements of the respective financial position of the <br />governmental activities, the business-type activities, each major. fund, and the aggregate <br />remaining fund information of Cabarrus County and the respective changes in financial position <br />and cash flows, where applicable, in conformity with U.S. generally accepted accounting <br />principles; and for federal and State award program compliance with applicable laws and <br />regulations and the provisions of contracts and grant agreements <br />F-8 <br />Attachment number 2 <br />Page 202 of 286 <br />