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External auditors outline FY2025 audit scope; results expected in December
Summary
CliftonLarsonAllen (CLA) briefed Norfolk City Council on the FY2025 audit scope, entities covered, two significant audit risks (management override and revenue recognition) and a projected December timeline for issuing financial statements and findings.
CliftonLarsonAllen (CLA) told Norfolk City Council that it is conducting the FY2025 financial statement and single‑audit work for the city, the school system, the economic development authority and the retirement system, and that audit results are expected in December.
Sherry Amos, principal with CLA, reviewed the scope of services and emphasized auditor responsibilities, management responsibilities and two significant audit risks required by auditing standards: management override of…
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