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RSM outlines FY26 external audit plan, says fieldwork to start this summer
Summary
RSM US LLP presented its external audit plan for the fiscal year ending June 30, 2026, describing scope, risk assessment, new GASB pronouncements and a timeline with fieldwork expected to start in the coming months and preliminary work to be done by the end of August.
Melissa Quinn and Lauren Teran of RSM US LLP presented the firm’s planned external audit approach for the fiscal year ending June 30, 2026. The presentation covered communication protocols, independence and ethics standards, new GASB pronouncements effective for the current year, materiality thresholds and significant audit risks.
"Fieldwork is expected to begin in the coming months, with the bulk of preliminary work to be completed by the end of August," Melissa Quinn told the committee. The timing and the firm’s emphasis on GASB pronouncements were noted as factors that could affect audit procedures and reporting for FY26.
The committee did not take a formal vote on the audit plan during this meeting; RSM indicated the major on-site activities will occur after preliminary procedures are finished. The Audit Committee is scheduled to continue oversight of the audit timeline as the firm begins fieldwork.
