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External auditors give San Francisco an unqualified opinion but flag control deficiencies
Summary
External auditors told the audit committee they issued an unqualified opinion on the City's FY2009 financial statements while identifying four significant internal-control deficiencies and several lesser issues, and highlighted a new pollution remediation liability of over $30 million.
External auditors told the Government Audit and Oversight Committee on April 22 that they issued an unqualified opinion on the City and County of San Francisco's fiscal year 2009 financial statements, but called attention to several internal-control weaknesses that warrant committee oversight.
"We issued an unqualified opinion on the city's financial statements, which is the highest level of assurance," said Cindy Pahn, partner with MGO, the city's external auditor. Pahn summarized the CAFR (Comprehensive Annual Financial Report) and related single-audit materials and said the auditors did not identify a material weakness but did identify four significant deficiencies.
Those significant deficiencies included segregation-of-duties issues in…
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