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City auditors outline CAFR timeline, audit scope; GASB changes flagged
Summary
External auditors MGO and KPMG told the Government Audit and Oversight Committee the city's Comprehensive Annual Financial Report is likely to be completed in November, with single audits to follow, and outlined audit responsibilities and upcoming GASB accounting changes affecting OPEB reporting.
The Government Audit and Oversight Committee heard a joint presentation from MGO and KPMG on Oct. 6 about the city’s upcoming financial audits and accounting standards changes.
Carmen LaFrank of the Controller’s Office said the final fieldwork for the Comprehensive Annual Financial Report is underway and that "we anticipate it will be completed in November, probably right around Thanksgiving." She added the single audit will be finished afterward and the auditors will…
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