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Centerville 2010 Management letter
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Centerville 2010 Management letter
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March 24, 2011 <br />Management, Honorable Mayor and Council <br />City of Centerville, Minnesota <br />We have audited the accompanying financial statementsof thegovernmental activities, the business-type activities, each major <br />fund and the aggregate remaining fund information of theCity of Centerville,Minnesota (the City),forthe year ended <br />December31, 2010.Professional standards requirethat we provide you withinformation about our responsibilities under <br />generally accepted auditing standards, as well as certain information relatedto the planned scope and timing of our audit.We have <br />communicated such information in our letter to you dated August 17,2010.Professional standards also require that we <br />communicate to you the following information related to our audit. <br />Our Responsibility Under Auditing Standards Generally Accepted in the United States of America <br />As stated in our engagement letter, our responsibility, as described by professional standards, is to plan and perform our audit to <br />obtain reasonable, but not absolute, assurance that the financial statements are free of material misstatement and are fairly <br />presented in accordance with accounting principles generally accepted in the United States of America.Because an audit is <br />designed to provide reasonable, but not absolute, assurance and because we did not perform a detailed examination of all <br />transactions, there is a risk that material errors, fraud or illegal acts may exist and not be detected by us. <br />Our responsibility is to plan andperform the audit to obtain reasonable, but not absolute, assurance that the financial statements <br />are free of material misstatement. As part of our audit, we considered the internal controlover financial reportingof the City. Such <br />considerations were solely for the purpose of determining our audit procedures and not to provide any assurance concerning such <br />internal control. We are responsible for communicating significant matters related to the audit that are, in our professional <br />judgment, relevant to your responsibilities in overseeing the financial reporting process. However, we are not required to design <br />procedures specifically to identify such matters. <br />Significant Audit Findings <br />A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow <br />management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct <br />misstatements on a timely basis. A material weakness is a deficiency or combination of deficiencies in internal control, such that <br />there is a reasonable possibility that a material misstatement of the City’s financial statements will not be prevented, or detected <br />and corrected on a timely basis. <br />Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph and was <br />not designed to identify all deficiencies in internal control over financial reporting that might be significant deficienciesor <br />material weaknesses and therefore, there can be no assurance that all such deficiencies have been identified. We did not identify <br />any deficiencies in internal control that we consider to be material weaknesses. <br /> <br />
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