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New Canaan accepts audited financial statements; auditors issue clean opinion
Summary
After an audit committee presentation, the council voted unanimously to accept the town's audited financial statements. The auditor PKF issued a clean opinion and new accounting standards produced a non-cash $9.7 million opening-balance adjustment.
The New Canaan Town Council unanimously accepted the audit committee’s recommendation to adopt the town’s audited financial statements on Dec. 17 after a presentation by the audit committee chair and finance staff.
Audit committee chair (Speaker 4) said the external auditor, PKF, will issue a clean opinion and found no material weaknesses or significant deficiencies in internal controls. The committee noted the adoption of new…
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