Laserfiche WebLink
Opinion on Financial Statements –Audit <br />Process <br />•Audit Fieldwork –auditor performs tests to verify: <br />Occurrence: recorded transactions and events pertain to the City <br />Completeness: all transactions and events that should have been <br />recorded have been recorded <br />Accuracy, Cutoff, Classification: amounts are accurately recorded in <br />the correct year and in the correct accounts <br />•Data mining techniques <br />Journal entries <br />Disbursement register <br />•Unmodified (“clean”) opinion on the financial statements <br />State Legal Compliance Report <br />•Required by Minnesota Statute §6.65 <br />•OSA audit guide covers seven categories <br />1)contracting and bidding <br />2)deposits and investments <br />3)conflicts of interest <br />4)public indebtedness <br />5)claims and disbursements <br />6)other miscellaneous provisions <br />7)tax increment provisions <br />•No compliance findings <br />24