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County auditors say external audit is on track; GASB and accessibility rules change reporting
Summary
County staff told the audit committee external audit work has begun, the contract covers a base financial audit plus about five single‑audit programs, GASB reporting changes and web accessibility rules are affecting presentation, and the Tourism Development Authority has separated accounting while remaining a component unit.
County finance staff updated the Buncombe County audit committee on the status of the external financial audit and several accounting and reporting items the committee should expect in the coming year.
Mason Scott, assistant finance director, said the county signed the external‑audit contract and the auditors have begun logistical work and some single‑audit testing. "The contract, as always, includes a base financial audit. 5 single audit programs are built to that base cost," Scott said, and staff currently expect to identify about five single‑audit programs for the year.
Scott flagged several items the committee will watch during the audit year: changes under the Governmental Accounting Standards Board that affect how the management discussion and analysis is presented, new accessibility requirements for public documents and the need to make complex financial reports readable by screen readers. "We have accessibility standards...their implementation was to be effective this year. They have extended that a year for us," Scott said.
The county also discussed its relationship with the Tourism Development Authority (TDA). Staff said TDA accounting functions have been brought in‑house and the TDA will continue to be presented as a component unit while doing its own accounting. County staff noted the county still collects occupancy tax and nets a 5 percent administrative fee from gross occupancy tax collections.
Auditors reported the state has extended submission deadlines to Dec. 31 for a second consecutive year, which staff said should help the audit timeline. The committee had no substantive votes on audit scope during this session; staff will continue routine audit coordination with the contracted auditor and report updates to the committee at regular meetings.
The committee asked staff to keep members informed of single‑audit focus areas and to share drafts of risk‑assessment questions so committee members who wish to participate can provide input.
