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Audit committee hears SB & Company report clean FY25 audit for Montgomery County
Summary
SB & Company told Montgomery Countys audit committee it issued unmodified opinions on the countys FY25 financial statements and found no material weaknesses or instances of fraud in tested areas; auditors also flagged IT and identity-theft risks and summarized federal grant testing that covered about 52% of federal expenditures.
At a meeting of Montgomery Countys audit committee, auditors from SB & Company reported unmodified (clean) opinions on the countys FY25 financial statements and related retirement and trust statements, and said they found no material weaknesses in internal control over financial reporting.
"We issued unmodified or, if you will, clean opinions on all of the financial statements," said Bill Seymour, SB & Companys engagement partner. "We did not discover any instances of fraud." Seymour added that the firms work is not a forensic fraud audit and that the comment applies to areas the auditors tested.
Seymour outlined the firms scope: the countys financial statements, a uniform guidance single audit of federal grants,…
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