Woonsocket auditors flag elevated risk, aim to finish FY2023 report by February

Dec 30, 2024

Markham/CBIZ auditors told the Woonsocket City Council they are treating the FY2023 engagement as higher-risk because of potential management override, IT access issues and a complex fund structure, and projected final trial balances by the end of January with a report in February.

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Jim Wilkinson, the lead auditor for the firm previously known as Markham (now merged with CBIZ), told the Woonsocket City Council on Dec. 30 that the city's FY2023 audit presents "a high level of audit risk" and requires expanded testing of internal controls.

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