AG 1992 03 09 - Laserfiche WebLink

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POTTER 3C.0 M PAaN Y, P.A. ~ ~COUNTANTS 114 N. Church Street, Monroe, NC 28112 (704) 283-8189 February 26, 1992 Honorable Carolyn Carpenter, Chairperson and Members of the Board of Commissioners Cabarrus County Concord, North Carolina Commissioners: We are pleased to confirm our understanding of the services we are to provide for Cabarrus County for the year ended June 30, 1992. We will audit the general purpose financial statements of Cabarrus County as of and for the year ended 3une 30, 1992. The following funds and account groups exist and will be subjected to the audit procedures: 2. 3. 4. 5. General Fund Capital Project Fund General Fixed Assets Group of Accounts General Long-Term Debt Group of Accounts Enterprise Fund Our audit will be made in accordance with generally accepted auditing standards and will include tests of your accounting records and other procedures we consider necessary to enable us to express an unqualified opinion that your financial statements are fairly presented, in all material respects, in conformity with generally accepted accounting principles. If our opinion is other than unqualified, we will fully discuss the reasons with you in advance. Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, tests of physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected customers, creditors, and banks. We will request written representations from your attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the conclusion of our audit, we will also request certain written representations from you about the financial statements and related matters. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgement about the number of transactions to be examined and the areas to be tested. Also, we will plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. However, because of the concept of reasonable assurance and because we will not perform a detailed examination of all transactions, there is a risk that material American Inslilulc of Ccrlilicd Public Accountants · North Carolina Association of Ccrlificd Public Accountants