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Auditors issue clean opinion for Greenville but flag material control weaknesses
Summary
The city’s auditors issued an unmodified opinion on Greenville’s 2024–25 financial statements while identifying material weaknesses in internal control tied to account reconciliations and timing of transfers; staff said cash is sufficient and management will sign the management representation letter.
Laura Lynch, a presenter for the city’s annual audit, told the Greenville City Council the auditors issued an unmodified opinion on the 2024–25 financial statements but identified material weaknesses in internal control over financial reporting.
“We identified material weaknesses that were related to account reconciliations not being performed throughout the year, which led to multiple material corrections to the financial statements,” Lynch said. She added that auditors found “no instances of non compliance and no instances of fraud.”
Lynch reviewed the audit’s headline…
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