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External auditors issue modified opinion on Stockton’s FY2024 financial statements; three reportable findings cited
Summary
Independent auditors presented Stockton’s FY2023–24 Annual Comprehensive Financial Report and issued a modified opinion with three reportable findings — administrative staff turnover and related delays, internal‑control/timeliness gaps in close, and repeated revisions to federal award schedules — and recommended remedial controls and follow‑up.
Stockton’s independent auditors presented the city’s FY2023–24 Annual Comprehensive Financial Report (ACFR) on Sept. 23 and issued a modified opinion while identifying three reportable findings tied to administrative turnover and internal‑control weaknesses.
Sophia Kuo of the auditing firm summarized that the audit provided reasonable—though not absolute—assurance of fair presentation under US GAAP and that management is responsible for preparing the financial…
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