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Auditors give Lynnwood "clean" opinions; recommend payroll controls after $7,000 phishing loss
Summary
State auditors presented Lynnwood's 2024 accountability, financial statement and federal single audits, issuing unmodified opinions but issuing a management letter recommending stronger electronic funds transfer controls after a 2024 payroll phishing loss of about $7,000.
Lynnwood's auditors told the City Council on Oct. 20 that the city's 2024 financial statements and federal grant compliance received unmodified (clean) audit opinions, while an accountability audit found the city generally complied with state requirements but flagged electronic funds transfer controls after a payroll phishing loss.
Jun Li, the audit supervisor, and Zhi Hua Hu, lead auditor for the engagement, presented the city's exit conference covering the accountability audit, the financial statement audit and the federal single audit. "We are issuing an unmodified clean audit opinion to the city's financial statements," Zhi Hua Hu said.
The auditors said they found no material weaknesses or significant deficiencies in internal control for the financial statement audit and no instances of noncompliance material to the statements. For the…
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