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City of Rockford audit team issues unmodified opinion on 2024 financial statements
Summary
Independent auditors Baker Tilly issued an unmodified (clean) opinion on the City of Rockford’s 2024 annual comprehensive financial report, saying the statements can be relied on and noting presentation changes including the library as a component unit and several revenue recognition timing adjustments.
Baker Tilly issued an unmodified opinion on the City of Rockford’s 2024 annual comprehensive financial report, meaning the auditors concluded the statements present the city’s financial position fairly in accordance with accounting standards. The opinion was presented to the City Council during the July 7 meeting by Mike Malat of Baker Tilly.
The auditor told the council that an unmodified opinion is the highest level of assurance the firm can provide and affirmed that, while auditors do not inspect every dollar, they perform sufficient procedures to rely on the information. "That is your kinda your gold star. You get the unmodified opinion," Malat said.…
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