Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Astoria auditor announces Moss Adams merger with Baker Tilly and outlines this year’s audit plan
Summary
An independent auditor told the Astoria City Council that Moss Adams is merging into Baker Tilly and presented the city’s pre‑audit plan, including a single audit because the city spends over $750,000 in federal funds; the auditor described planned interim and final fieldwork and major risk areas.
An auditor working on the city engagement told the Astoria City Council on Aug. 18 that Moss Adams is merging with Baker Tilly and that the local audit team will continue serving the city under the Baker Tilly name.
"We are being renamed Baker Tilly but same firm, same people that you'll interact with, I'm remaining on the city's account and I'm excited to work with you again this year," the engagement reviewer said during a pre‑audit communication to the council. The auditor said the firm will perform the city's annual financial statement audit and a single audit because the city receives and spends more than $750,000 of federal funding.
The auditor summarized the scope and timing of work: interim tests of key controls in mid‑September, on‑site final field work the week of Nov. 3, and a draft of the financial statements planned for December with a council presentation in January. She also described the firm’s risk‑based approach and five significant risk areas the team will emphasize, including management override of controls, revenue recognition and valuation of receivables, capital‑asset existence and valuation, completeness of long‑term debt, and compliance with federal laws and Oregon minimum standards.
Councilors asked for clarification about auditors' fraud responsibilities. The auditor said auditors set a materiality threshold and are required to detect material fraud but are not required to detect immaterial irregularities: "we do not look at immaterial transactions, we don't look at, we don't test every single dollar," she said. She added materiality is an auditor judgment often calculated around 1–3% of total assets or net position.
The presentation noted auditors will assist management with drafting the financial statements and related notes again this year, and that the team plans to evaluate new Governmental Accounting Standards Board (GASB) pronouncements affecting disclosures. The engagement reviewer invited councilors to raise questions now or when the firm returns with formal findings later this year.
