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Goochland County auditors issue clean opinion but flag year-end weaknesses; officials promise fixes
Summary
PB Mares told the Goochland County Audit and Finance Committee it will issue an unmodified (clean) opinion on the countyfinancial statements but disclosed a material weakness tied to year-end closing and reconciliations; county leaders pledged quarterly reconciliations and added oversight.
The Goochland County Audit and Finance Committee heard a presentation from PB Mares on the countyfinancial statements and audit process, and was told the auditors will issue an unmodified (clean) opinion despite a material weakness tied to year-end closing procedures.
"We will be issuing or have issued an unmodified opinion on your financial statements," the lead presenter said, noting that the audit team found a material weakness documented in the compliance section of the report related to readiness and reconciliations at year end.
Why it matters: a clean opinion affirms that the statements fairly present the county's finances, but the material weakness signals a control deficiency that could lead to significant adjustments or misstatements if not corrected.
PB Mares explained the weakness resulted largely from "compression" during the…
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