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External auditors report four findings to Knox County audit committee, including procurement irregularity
Summary
QCPAs presented Knox Countysingle-audit compliance report and identified four findings: trustee liability reconciliations, Clerk and Master's year-end reconciliations, sheriff's PTO accounting, and an invoice-alteration procurement matter; auditors noted improvements and said follow-up testing is planned.
Ted Hodes, of QCPAs, told the Knox County Audit Committee on March 10 that the firm's single-audit compliance report includes four current-year findings and reflects progress on prior issues.
"No new significant accounting policies were adopted during the fiscal year," Hodes said, summarizing the audit governance letter and noting auditors attached proposed audit adjustments and a schedule of significant accounting estimates.
Hodes described the four findings. The first involves liability-account reconciliations in the trustee's office, where reconciling items remained but had declined in number; he cited an example reconciling difference of about $30,000 that auditors said has since been resolved after updated bank statements were provided. The…
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