AG 2009 03 16 - Laserfiche WebLink

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C Management is also responsible for making all financial records .and related .information available to us, including identifying significant vender relationships in which the vendor has responsibility for program compliance and for the accuracy and completeness of that information. Your responsibilities include adjusting the financial statements to correct material misstatements and for confirming to us in the representation letter that the effects of any uncoi7ected misstatements aggregated by us during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken as a whole. You are responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or. suspected fraud or illegal acts affecting the government involving (1) management, (2) employees who have significant roles in internal control, and (3) others where the fraud or illegal acts could have a material effect on the financial statements. Your responsibilities include informing us of your knowledge of any allegations of fraud or suspected fraud affecting the goverment received in communications from employees, former employees, grantors, regulators, or others, In addition, you are responsible for identifying and ensuring that the entity complies with applicable laws, regulations, contracts, agreements, and grants. Additionally, as required by OMB Circular A-133, it is management's responsibility to follow up and take corrective action on reported audit findings and to prepare a summary schedule of prior audit findings and corrective action plan. ~ The summary schedule of prior audit findings should be available for our review on the first day of interim fieldwork. Management is responsible for establishing and maintaining a process far tracking the status of audit findings and recommendations. Management is also responsible for identifying for us previous audits or other engagements or studies related to the objectives discussed in the Audit Objectives section of this letter. This responsibility includes relaying to us corrective actions taken to address significant Endings and recommendations resulting from those audits or other engagements or studies. You are also responsible for. providing management's views on our current findings, conclusions, and recommendations, as ~vell as your planned corrective actions. Audit Procedures-GenerRl An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. We will plan and perform the audit to obtain reasonable rather than absolute assurance about whether the financial statements are free of material misstatement, whether fiom (1) errors, (2} fraudulent financial reporting, (3) misappropriation of. assets, or (4} violations of laws or goveriunental regulations than are attributable to the entity or to acts by management or employees acting on behalf of the entity. Because the determination of abuse is subjective, Government Auditing Sta~tdards do not expect auditors to provide reasonable assurance of detecting abuse. Because an audit is designed to provide reasonable, but not absolute, assurance and because we will not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and not be detected by us. In addition, an audit is not designed to detect immaterial misstatements or violations of laws or governmental regulations that do not have a direct and material effect on -the f nancial statements. However, we will inform you of any material errors and any fraudulent financial reporting or misappropriation of assets, that come to Attachment number 2 F - 8 Page 203 of 286