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Committee hears external audit: unmodified opinions, one significant deficiency tied to new financial system
Summary
The Government Audit and Oversight Committee heard external auditors report unmodified opinions on the city’s FY2017–18 financial statements and a single significant deficiency in internal controls tied to the PeopleSoft conversion; the committee filed the hearing without objection.
The Government Audit and Oversight Committee on Oct. 23 heard external auditors report unmodified opinions for San Francisco’s FY2017–18 financial statements and compliance audits, and were told of one significant deficiency in internal controls tied to the city’s recent financial system conversion.
Controller Ben Rosenfield framed the presentation, saying FY2017–18 was “a very challenging financial year” because the city closed its books for the first time after switching to PeopleSoft. Rosenfield said the conversion delayed the Comprehensive Annual…
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