Presentation to: Prince William County Public Schools February 19, 2020
Engagement Services Financial Statement Compliance: Examinations: Agreed ‐ Upon Audits: Procedures: • Governmental Auditing •Virginia Retirement System Standards census data testing •Prince William County •MOU on PWCS disbursement ( Performed under separate •Auditor of Public Accounts Public Schools, including: process engagement letter ) (APA) Specifications for Audits •Student Activity Funds of Cities, Counties and Towns (Agency Fund)* ( Specifications ) •Prince William County •County and School’s Major Public Schools Foundation Federal Programs required by (Discretely Presented Title 2 U.S. Code of Federal Component Unit)* Regulations Part 200 (Uniformed Grant Guidance) * We do not audit the Student Activity Funds, a School Agency Fund, nor the Prince William County Public Schools Foundation, a discretely presented 2 component unit of the Schools.
Service Deliverables Financial Statement Opinions: Other Services: Unmodified In process Our opinion on the 2019 financial statements is opinion, unmodified, or a “clean” opinion, dated December 19, August 27, 2019 2019 In Relation to Agreed ‐ Upon Audit Opinion Unaudited Other Auditors Examination Opinion Procedures • Basic Financial • Supplementary • Introductory • Prince William • Exam School’s • Perform Statements Information Section County Public assertion that procedure School Activity census data agreed ‐ upon • Notes to the • Required Funds reported to the between the Basic Financial Supplementary VRS were County and Statements Information • The Education complete and Schools over Foundation for • Statistical accurate the MOU on Prince William Section PWCS County Public disbursement Schools process 3
Service Deliverables (cont.) Compliance Reporting and Opinions: Material Weakness in Noncompliance over No reported Material Internal Controls over Conflict of Interest Weakness or Inventory Noncompliance Government Auditing Uniformed Grant APA Specifications Standards Guidance • Consider internal • Perform test of • Consider internal control over financial compliance with control over reporting certain provisions of compliance for the laws, regulations, purpose of reporting • Perform test of contracts and grants on internal control compliance with over compliance certain provisions of laws, regulations, • Examine compliance contracts and grants with 2 CRF 200 for purpose of expressing an opinion on compliance 4
Required Communications Required Communications • Accounting Policies • Management Judgment and Accounting Estimates • Audit Adjustments and Uncorrected Misstatements • Disagreements with Management • Difficulties Encountered in Performing the Audit • Consultation with Other Accountants • Client Communications • Independence • Future Accounting and Reporting Changes 5
Your Guide Forward Laura Beckler Manager 703.584.8389 lbeckler@cbh.com Greg Miller Director 804.673.5742 gmiller@cbh.com 6
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