Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditors give Anchorage MunicipalityFY2023 an unmodified opinion, flag control weaknesses
Summary
BDO presented the FY2023 audit to the Municipal Audit Committee, reporting an unmodified opinion and highlighting material weaknesses in close processes, journal-entry controls and grant-revenue recording; administration said staffing and process changes are underway and set an ambitious target to finish the FY2024 audit by early 2026.
BDO presented its FY2023 audit wrap-up to the Anchorage MunicipalityMunicipal Audit Committee on Sept. 4, telling the committee the municipalityreceived an unmodified opinion on its financial statements but that auditors found material weaknesses and other control inefficiencies that require attention.
The auditor said the financial-statement audit was complete and that a separate government-auditing-standards report (GAS) discloses internal-control findings. "Your team never once tried to hide information from us. They were very transparent with the information that we got," the BDO presenter said, noting the firm released its opinion on Aug. 15 and had focused additional effort on high-risk areas.
BDO told the committee it treated management override, grant revenue recognition (including large FEMA and COVID-related inflows in 2023), SAP and outside accounting entries, and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
