2015 12-15 CC PACKET - Laserfiche WebLink

Home

December 9, 2015 City of Gem Lake " Page 7 With regard to the electronic dissemination of audited financial statements; including financial statements published electronically on your website, you understand that electronic sites -are a meads to distribute information and,, therefore, we are not required to read thelriformatioh contained in those. sites or to* consider the conslstericy of other information In the electronic site with the original document. We may issue preliminary draft financial statements to you for your review. Any preliminarydraft financial statements should not be relied on or distributed. Engagement administration and other matters We expect to begin our audit in February 2016. We understand that your employees will prepare all confirmations, account- analyses, and audit schedules. we request. and will locate any documents or invoices selected by us for testing, A list of information we expect to need for our* audit* and the dates required will be provided in a separate. communication.. We will provide coples:jof our reports to the entity; however, managenieirtis responsible for distribution of the reports and the financial statements. Unless restricted --by law or regulation; or containing privileged .and confidential information, copies of our reports are. to -be made available for public inspection. We are available to perform additional procedures with regard to fraud detection and prevention, at your request, asa separate engagement, subject to completion of our.nprmaI engagement acceptance procedures.. The terms and fees of such an engagement would be. documented 'in a separate. engagement letter.. The audit documentation for this engagement. is the sole and. exclusive. property. -of Cl_A and constitutes confidep#lal and proprietary Information. However, pursuant to authority given *by law or regulatiop; We may be requested to make certain -audit documentation available to the Minnesota Office of the State. Auditor, or Its designee, a federal agency providing direct or lndirecf funding, or the U.S.. Government Accountability Office for purposes of d quailty review of the audit, to-resoive audit findings; orto-carry out oversight responsibilities. We will notify youof a6y tuch request. If requested, access to such audit. documentation will be provided under the supervision of CLA personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies. The audit documentation for this engagement will be retained for a minimum ofsevrsn.years af#erthe report release date or for any additional period requested by the Minnesota. office -of the State -Auditor; If we are aware that a federal awarding agency, passethrough entity, or auc[06 is contesting. -an audit finding, we will contact the pd�rty(ies) contesting the :apdit finding for guidance prior to destroying. the audit documentation. Professional standards require us to be independent with respect to you in the performance of these services.