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Finance director outlines audit process; says ERP could improve efficiency
Summary
Finance Director Amy Dill told the board the county is undergoing its annual external audit required by Virginia law and federal standards and that implementation of an ERP could improve audit efficiency by giving auditors view‑only access to records.
Amy Dill, Shenandoah County's Director of Finance, presented a quarterly update on the county's annual audit process and described the roles of internal staff and external auditors. She said external auditors sample items to find evidence supporting financial statement amounts and disclosures and that the process is required by "Virginia State Code, APA specifications, and Code of Federal Regulations."
Dill said the county seeks an unmodified opinion providing reasonable assurance that financial statements comply with applicable accounting principles; after the audit the county will publicly share results in the Annual Comprehensive Financial Report (ACFR) and the Popular Annual Financial Report (PAFR) and send them to the Government Finance Officers Association. "They publicly share the information in the forms of the ACFR and PAFR, which are then sent the GFOA," the minutes record.
Supervisor Mark Dotson asked whether the county's planned enterprise resource planning (ERP) system would help expedite audits. Dill said an ERP could help compile information and that auditors could be given view‑only access to improve efficiency.
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