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External auditors outline FY2012-13 audit plans; successor agency material weakness highlighted
Summary
KPMG and Macias Gini & O'Connell presented audit scopes and timelines for fiscal-year audits and single audits; auditors noted a material weakness in the Successor Agency—s financial reporting stemming from staffing and system changes following redevelopment dissolution and raised three single-audit issues affecting DPH, Department of Environment and Emergency Management.
External auditors for the city presented their FY2012-13 audit plans to the Government Audit and Oversight Committee and highlighted prior-year findings they will follow up on, including one material weakness related to the Successor Agency to the former redevelopment agency.
Awan Nguyen of KPMG described the firm—s engagement objectives and timeline: the audit is designed to "enable the auditors to express an opinion about whether or not the financial statements have been prepared by management and are presented fairly in all material respects," and…
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