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Auditors give city a clean opinion on FY2008 CAFR, flag compliance and IT governance issues and outline 2009 audit plans
Summary
External auditors issued an unqualified opinion on the city's FY2008 financial statements and single audit but identified one significant deficiency (food stamps timely reporting) and several management-letter items (procurement classification, IT governance, subsidiary records). Auditors outlined 2009 audit plans and timelines and asked the committee to treat the briefing as a primer and reconvene for detailed review.
External auditors told the Government Audit and Oversight Committee they issued a clean, unqualified opinion on San Francisco—s fiscal 2008 financial statements and on the single audit of selected federal-award programs, but they flagged several control and reporting matters for corrective attention.
Linda Hurley of Macias, Jeanie and O'Connell reported to the committee that auditors did not identify material audit adjustments that affected the opinion, though they did note immaterial classification and timing differences. Hurley said the auditors found eight management-letter comments and "one significant deficiency in internal control related to the food stamps program," citing untimely reporting of program data to federal…
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