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Astoria auditors outline risks, new GASB rules and single-audit scope ahead of year-end review
Summary
Auditors (now Baker Tilly following a Moss Adams merger) told the Astoria City Council they will perform the city—s annual financial statement audit and a federal single audit, highlighted five significant risk areas and flagged new GASB guidance the city must adopt for its 2025 year-end reporting.
Lede: Auditors for the City of Astoria said Thursday they will perform both the annual financial statement audit and a federal single audit this year, identified five areas of heightened audit risk and warned the council of new Governmental Accounting Standards Board (GASB) guidance the city must adopt for its 2025 year-end financial statements.
Nut graf: In a pre-audit communication presented at the Aug. 18 council meeting, the engagement lead said the firm formerly known as Moss Adams has merged under the Baker Tilly name but that the same engagement team will continue work on Astoria—s account. The auditors told council they would focus their efforts on areas they judge to present the greatest risk of material misstatement and described the planned audit timing and…
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