08-28-1995 Council Packet - Laserfiche WebLink

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Formal R eqiired C ommunications r Statement cn Anditing Standards Number 61, "Communication With Audit C«'mmittecs," requires the auditor to ensure that certain matters related to the conduct of an audit are communicated to those who have responsibility for oversight ot the financial reporting privess. This is required for audits ot financial statements for periixls beginning on or after January 1. 1989. This letter constitutes our communication of such matters. The A uditor ’s RESPONsiBitm LNi>er C i nkr .\li.^ A ccffted aitiiting Standards Generally accepted auditing standards require auditors to plan and perform audits to obtain reasonable, but not absolute, assurance about whether the finaiicial statements are free of material misstatement. An audit includes examining, on a test biLsis. evidence supponing the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. L I I I I I I 1 1 I I SlGNinCANT ACCOUMINt; POLICIES There were no changes in significant acct>unting pidicies or their application during the year audited DlSAliKFEMENTS WITH MANAGEMENT We have no disagreements with management concerning the application of accounting principles, accounting estimates, the scope of the audit, disjosures in the financial statements, wording of the auditor's report, or any other matter significant U> the City ’s general purpose financial statements. DimCUITIES ENCOl’NTf;RED IN PEKI ()R.MIN(; TIU; AlTUI We encountered no difficulties in dealing w ith management relating to the performance of the audit -12-