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School Opinion Letters

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School Opinion Letters

    (May 2008)

    INDEPENDENT AUDITOR’S REPORT

School Board

    __________________ School District No. _____

    ____________________ , South Dakota

We have audited the accompanying financial statements of the governmental activities, the business-type

    activities, the aggregate discretely presented component units, each major fund, and the aggregate

    remaining fund information [AMEND ACCORDING TO APPLICABLE OPINION UNITS] of the

    __________________ School District No. _____, South Dakota, as of June 30, 2008 (and 2007), and for

    (each of) the year(s) then ended, which collectively comprise the School District’s basic financial

    statements as listed in the Table of Contents. These financial statements are the responsibility of the

    School District’s management. Our responsibility is to express opinions on these financial statements

    based on our audit.

    (Except as discussed in the following paragraph(s), we) We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to

    financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable

    assurance about whether the financial statements are free of material misstatement. An audit includes

    consideration of internal control over financial reporting as a basis for designing audit procedures that are

    appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of

    the School District’s internal control over financial reporting. Accordingly, we do not express such an

    opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and

    disclosures in the financial statements, assessing the accounting principles used and significant estimates

    made by management, as well as evaluating the overall financial statement presentation. We believe that

    our audit provides a reasonable basis for our opinions.

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In our opinion, (except for the effects, if any, of the matters discussed in paragraphs three through

    ___, above,) ____________________________________________________________________

    ________________________________________________________________________________

    ________________________________________________________________________________

    ________________________________________________________________________________

    the financial statements referred to above present fairly, in all material respects, the respective financial

    position of the governmental activities, the business-type activities, the aggregate discretely presented

    component units, each major fund, and the aggregate remaining fund information [AMEND ACCORDING

    TO APPLICABLE OPINION UNITS] of the __________________ School District No. _____, South

    Dakota as of June 30, 2008 (and 2007), and the respective changes in financial position and cash flows, where applicable, thereof for (each of) the year(s) then ended in conformity with accounting principles generally accepted in the United States of America.

    (May 2008)

    (NOTE: THERE ARE NUMEROUS SIGNIFICANT WORDING CHANGES TO THE OPINION PARAGRAPH

    IF GIVING A DISCLAIMER OF OPINION OR AN ADVERSE OPINION. SEE SAS 508.70 THROUGH 508.72

    IF GIVING A DISCLAIMER OF OPINION AND SAS 508.67 THROUGH 508.69 IF GIVING AN ADVERSE

    OPINION. IT IS ALSO POSSIBLE TO ISSUE A QUALIFIED OPINION ON ONE OR MORE OPINION UNITS,

    AND UNQUALIFIED OPINIONS ON THE REMAINDER OF THE OPINION UNITS. ADDITIONALLY, AN

    UNQUALIFIED OPINION MAY BE EXPRESSED ON ONE FINANCIAL STATEMENT OF AN OPINION

    UNIT, SUCH AS THE NET ASSETS STATEMENT, AND AN ADVERSE ON DISCLAIMER OF OPINION ON

    THE OPERATING STATEMENTS OF THE OPINION UNIT. FINALLY, SEE ASLG PARAGRAPH 14.10 FOR

    EXAMPLES OF CERTAIN EGREGIOUS SITUATIONS THAT PRECLUDE THE ABOVE OPTIONS IN

    REPORTING, AND REQUIRE AN ADVERSE OR DISCLAIMER OF OPINION FOR THE GOVERNMENT AS

    A WHOLE.)

In accordance with Government Auditing Standards, we have also issued our report dated

    _______________, 2008 (2009) on our consideration of the School District’s internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts (and grant

    agreements) and other matters. (NOTE: DELETE REFERENCE TO GRANTS IF THIS AUDIT WAS NOT

    DONE IN ACCORDANCE WITH A-133 AND GRANTS ARE NOT MATERIAL TO AN OPINION UNIT) The

    purpose of that report is to describe the scope of our testing of internal control over financial reporting and

    compliance and the results of that testing, and not to provide an opinion on the internal control over

    financial reporting or on compliance. That report is an integral part of an audit performed in accordance

    with Government Auditing Standards and should be considered in assessing the results of our audit.

    The Management’s Discussion and Analysis (MD&A) and Budgetary Comparison Schedule [APPEND ACCORDINGLY] on pages ___ through ___, and ___ through ___ are not a required part of the basic

    financial statements but are supplementary information required by accounting principles generally

    accepted in the United States of America. We have applied certain limited procedures, which consisted

    principally of inquiries of management regarding the methods of measurement and presentation of the

    required supplementary information. However, we did not audit the information and express no opinion

    on it. [IF THE ENTITY DID NOT PRESENT A MD&A INCLUDE THE FOLLOWING] The School District has not presented the Management’s Discussion and Analysis that the Governmental Accounting Standards Board has determined is necessary to supplement, although not required to be part of,

    the basic financial statements.

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively

    comprise the School District’s basic financial statements. The Schedule of Expenditures of Federal Awards, which is required by the U.S. Office of Management and Budget Circular A-133, Audits of

    States, Local Governments, and Non-Profit Organizations, the ______________ and the ____________ schedules listed in the Table of Contents are presented for purposes of additional

    analysis and are (is) not a required part of the basic financial statements. Such information has been

    subjected to the auditing procedures applied in the audit of the basic financial statements and, in our

    opinion, is fairly stated, in all material respects, in relation to the financial statements taken as a whole.

    (NOTE: DELETE REFERENCE TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IF THIS

    AUDIT WAS NOT DONE IN ACCORDANCE WITH A-133.)

Martin L. Guindon, CPA

    Auditor General

______________________, 2008 (2009)

    (May 2008)

    (Only necessary when issuing separate A-133 package)

    AUDITOR’S REPORT ON SUPPLEMENTARY SCHEDULE OF EXPENDITURES OF FEDERAL

    AWARDS

School Board

    __________________ School District No. _____

    ____________________ , South Dakota

We have audited the accompanying financial statements of the governmental activities, business-type

    activities, the aggregate discretely presented component units, each major fund, and the aggregate

    remaining fund information [AMEND ACCORDING TO APPLICABLE OPINION UNITS] of __________

    School District No. _____ (School District), as of June 30, 2008 (and 2007), and for (each of) the year(s)

    then ended, which collectively comprise the School District’s basic financial statements and have issued our report thereon dated ___________, 2008 (2009). These financial statements are the responsibility of the School District’s management. Our responsibility is to express an opinion on these financial

    statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the United States of

    America and the standards applicable to financial audits contained in Government Auditing Standards,

    issued by the Comptroller General of the United States. Those standards require that we plan and

    perform the audit to obtain reasonable assurance about whether the financial statements are free from

    material misstatement. An audit includes examining, on a test basis, evidence supporting 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. We believe that our audit provides a reasonable basis for our opinions.

Our audit was performed for the purpose of forming opinions on the financial statements that collectively

    comprise the School District’s basic financial statements as of June 30, 2008 (and 2007), and for (each

    of) the year(s) then ended. The accompanying Schedule of Expenditures of Federal Awards is presented

    for purposes of additional analysis as required by U.S. Office of Management and Budget Circular A-133,

    Audits of States, Local Governments, and Non-Profit Organizations, and is not a required part of the financial statements.

The information in the accompanying schedule has been subjected to auditing procedures applied in the

    audit of the financial statements and, in our opinion, is fairly stated, in all material respects, in relation to

    the financial statements.

Martin L. Guindon, CPA

    Auditor General

_____________, 2008 (2009)

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