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Auditors give TJPA unmodified opinion on FY2025 financial statements; emphasis of matter noted for new accounting standard
Summary
Baker Tilly issued an unmodified opinion on the Transbay Joint Powers Authority's FY2025 financial statements and flagged an "emphasis of matter" related to implementation of a new governmental accounting standard on compensated absences; net position and cash-flow changes were highlighted.
Michelle Walter, senior manager at audit firm Baker Tilly, told the Transbay Joint Powers Authority board on Dec. 11 that Baker Tilly had issued an unmodified opinion on the authority's fiscal year 2025 financial statements, meaning the auditors found the statements to be materially accurate and properly presented under government accounting standards.
Walter said the audit opinion included an "emphasis of matter" because…
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