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Smithville auditors deliver clean opinion, note repeat material weaknesses
Summary
External auditors told a Smithville work session they issued an unmodified (clean) opinion for the 2024 audit but identified two repeat material weaknesses related to preparation of financial statements and audit adjusting entries; city management said it will work to mitigate the issues.
At a Smithville work session, Adam Polley, principal in charge of the audit, told aldermen the 2024 audit resulted in an unmodified — "a clean audit opinion." Polley said nothing "alarming" surfaced during the audit but auditors issued two repeat material weaknesses.
The auditors focused their presentation on audit results rather than the city's financial numbers. Polley said the two material weaknesses were "preparation of the financial statements" — meaning auditors provided significant assistance to ensure statements met accounting standards — and the related need for audit adjusting entries. He said such…
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