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Volusia Schools audit teams outline dozens of reviews; RSM explains internal audit role and follow-up process
Summary
District finance staff and RSM presented the types of audits that touch Volusia County Schools, explained statutory timing and federal thresholds, and described how the district's internal audit function (run by RSM and overseen by an independent audit committee) selects risks, executes audits, and verifies remediation. Board members pressed staff
Volusia County School Board members heard an hourlong briefing Oct. 28 on the district's audit environment, the separate internal audit function managed by RSM, and how outstanding audit observations are tracked and closed.
Todd Cease, the district's chief financial officer, told the board that the annual comprehensive financial report (ACFR) is the district's cornerstone audit and is required by Florida Statute 218.39; the audit covers revenues, expenditures, capital assets and compliance and must be submitted within nine months of the fiscal year end. He also summarized other reviews that feed the ACFR: component-unit audits (charters and the Futures Foundation), internal accounts (school activity funds audited by James Moore Company), single-audit testing for federal awards under 2 CFR Part 200 when federal expenditures exceed $1,000,000, and state program reviews when state-project funds trigger the state threshold cited as part of the Florida statutes. Cease noted…
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