08-11-1993 Council Agenda - Laserfiche WebLink

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July 27, 1993 City of Little Canada 515 Little Canada Rd St. Paul, MN 55117 This letter will confirm our understanding of the services we are to provide for the City of Little Canaria, Minnesota for the year ended December 31, 1992. We will perform a Single Audit in accordance with generally accepted auditing standards; the standards for financial audits contained in Government Auditing Standards; issued by the Computer General of the United States; the Single Audit Act of 1984; and the provisions of OMB Circular A -128, Audits of State and Local Governments, and will include tests of the accounting records of the City of Little Canada, Minnesota and other procedures we consider necessary to enable us to report on the City of Little Canada, Minnesota compliance with laws and regulations and its internal controls as required for a Single Audit. Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, and may include tests of the physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected individuals, creditors, and financial institutions. At the conclusion of our audit, we will also request certain written representations from you about the financial statements and related matters. As required by the Single Audit Act of 1984, our audit will include tests of transactions related to federal assistance programs for compliance with applicable laws and regulations. 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 errors, irregularities, or illegal acts, including fraud or defalcations, may exist and not be detected by us. We will advise you, however, of any matters of that nature that come to our attention, and will include such matters in the reports required for a Single Audit. We understand that you will provide us with the basic information required for our audit and that you are responsible for the accuracy and completeness of that information. This responsibility includes the maintenance of adequate records and related internal control structure policies and procedures, the selection and application of accounting principles, and the safeguarding of assets. Our audit is not specifically designed and cannot be relied on to disclose reportable conditions, that is, significant deficiencies in the design or operation of the internal control structure. However, during the audit, if we become aware of such reportable conditions or ways that we believe management practices can be improved, we will communicate them to you in a separate letter. Page 10 4810 White Bear Parkway ^ White Bear