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Outside auditor outlines GASB 103 changes and offers consulting support
Summary
Rob Wood, an audit partner with HBME, told the committee his firm will help North Ogden convert fund-based statements to entity-wide GASB reporting, assist with MD&A preparation, and train staff while preserving external-auditor independence.
Rob Wood, an audit partner with HBME, introduced his firm—7s role as a consultant to help North Ogden convert its fund-level financials into GASB-compliant entity-wide statements. "My name is Rob Wood. I'm an audit partner with HBME," Rob Wood said, describing the firm's experience auditing more than 22 municipalities and training finance staff. He emphasized that the consultant role is intended to teach staff how to prepare required GASB entries and the MD&A rather than to replace management responsibility.
Wood outlined key reporting changes under GASB 103, including required presentation of entity-wide statements and required supplementary information with a new variance column between original and final budgets. He warned that if an external auditor both prepared MD&A and audited it, independence could be impaired; his firm described non-attest services and the oversight needed so external auditors can still provide an opinion. Peter Brown and other staff agreed to work with Wood over the summer to prepare schedules and entries ahead of the external audit window.
Committee members asked about resources and timing; Wood said the firm will adapt to North Ogden's schedule and that internal training and sample schedules will be provided. The committee discussed aiming for audit completion around Dec. 15 and having the audit committee and council review the work beforehand. No formal contract changes were approved at the meeting; the firm—7s assistance was framed as a consulting engagement to be integrated into the audit schedule.
