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<br /> <br />City of Centerville <br />May 3, 2007 <br />Page Three <br /> <br />Audit Adjustments <br /> <br />For purposes ofthis letter, professional standards defme an audit adjustment as a proposed correction of the fmancial statements <br />that, in our judgment, may not have been detected except through our auditing procedures. An audit adjustment mayor may not <br />indicate matters that could have a significant effect on the City's fmancial reporting process (that is, cause future fmancial <br />statements to be materially misstated). We proposed 51 accounting entries that were necessary to adjust accounts to year end <br />balances. All of the entries are attached at the end of this letter. They are a combination of year end balance adjustments and audit <br />adjustments. Both series of entries are generally considered the responsibility of the City to prepare. The City will get more <br />accurate and timely information if the number of journal entries is reduced. We had no uncorrected misstatements. <br /> <br />Disagreements with Management <br /> <br />For purposes of this letter, professional standards defme a disagreement with management as a matter, whether or not resolved to <br />our satisfaction, concerning a financial accounting, reporting or auditing matter that could be significant to the fmancial statements <br />or the auditor's report. We are pleased to report that no such disagreements arose during the course of our audit. <br /> <br />Consultations with Other Independent Accountants <br /> <br />In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to <br />obtaining a "second opinion" on certain situations. If a consultation involves application of an accounting principle to the City's <br />fmancial statements or a determination of the type of auditor's opinion that may be expressed on those statements, our professional <br />standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our <br />knowledge, there were no such consultations with other accountants. <br /> <br />952.835.9090 . Fax 952.835.3261 <br /> <br />www.aemcpas.com <br /> <br />~ <br />