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Ulster County audit committee reviews 2024 audit plan; auditors flag GASB 101 and three federal program audits
Summary
External auditors updated the Ulster County Audit Committee on 2023 deliverables and the 2024 audit timetable, identified two significant audit risks and said GASB 101 implementation may increase compensated‑absence liabilities. Auditors also outlined three single‑audit programs to be tested in March.
At an Ulster County Audit Committee meeting, auditors from O'Connor Navy updated the committee on 2023 audit deliverables and presented the planning schedule and risk assessment for the 12/31/2024 financial statement and single audit.
Auditors reported that the 2023 financial statements were issued on Sept. 27, 2024, and that the county’s single audit had been uploaded to the Federal Audit Clearinghouse and submitted. Melissa from O'Connor Navy said two agreed‑upon procedures (AUPs) — one for the jail commissary and one for the Resource Recovery Agency — had drafts for 2022 and 2023 provided and were under review; the firm was awaiting representation letters before issuing final reports. The auditors also said they had received a final assigned‑manager representation letter for the New York State Department of Transportation compliance audit and expected to issue that engagement shortly.
For the 12/31/2024 financial statement audit, the auditors described the planned timetable: preliminary control…
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