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Auditors give HCDA a clean FY2024 opinion; internal controls and compliance flagged as sound
Summary
External auditors KKDLY LLC reported an unmodified opinion on HCDA's June 30, 2024 financial statements, found no material weaknesses in internal control and identified no material noncompliance; auditors and staff discussed accounting estimates, development credits and a significant appropriations balance tied to specific projects.
KKDLY LLC presented the Hawaiʻi Community Development Authority’s fiscal year 2024 financial audit at the Jan. 8 at‑large authority meeting, issuing an unmodified (clean) opinion on the agency’s financial statements and reporting no material weaknesses in internal control over financial reporting.
Ralph Kanitoku of KKDLY told the board the audit, performed under contract with the state Office of the Auditor, was completed on schedule and met all state financial reporting deadlines. KKDLY said it issued three formal reports: the independent auditor’s report on the financial statements (unmodified opinion), a…
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