Chester County audit committee told general fund adjustments exceeded materiality; members seek corrective plan
At a Chester County audit committee meeting, auditors said aggregated adjustments to the general fund exceeded the materiality threshold and discussed ongoing two-year reconciliation work; committee members said requesting a corrective action plan falls within the committee’s role.
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At a Chester County audit committee meeting, auditors reported that aggregated adjustments to the county’s general fund exceeded the materiality threshold, which the auditors said triggered required material audit adjustments. The meeting record does not specify a date for the session or a numerical materiality threshold.
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