Finding Text
Finding 2022 – 001: Financial Reporting
Condition: The County and Self Insurance Trust do not provide their own financial statements, notes,
required supplementary information.
Criteria: The County relies on the audit firm to prepare the modified accrual financial statements due to
the lack of staff and training involved in preparing external financial reports.
Cause: The County relies on the external auditors to draft the individual fund statements, assist with
modified accrual entries, make conversion entries, draft the government-wide statements, and prepare note
disclosures.
Effect: The financial results of certain funds within the County’s financial statements could be materially
misstated.
Recommendation: We recommend the County consider providing increased training to accounting staff
to prepare the financial statements.