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Auditor outlines FY25 audit plan, flags revenue recognition and management override as primary risks
Summary
Denman CPAs told the Waukee City Council it will be on-site next week to perform the fiscal year 2025 audit, will report control observations, and expects to return with final audit reports later this year; the firm identified management override and revenue recognition as the two major audit risks.
Robert Anderson, a partner with Denman CPAs, told the Waukee City Council the firm will be on-site next week to conduct the city’s fiscal year 2025 audit and expects to present the final report to the council in the fall or early winter. The audit will produce an opinion on the city’s financial statements, opinions on supplemental information and a report on internal control observations. Anderson said the audit team will focus procedures on areas with heightened risk, including nonroutine…
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