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Mr. Rodney Davenport <br />City of Pleasanton <br />June 13, 1988 <br />Page 2 <br /> <br /> An audit is based primarily on the selective testing of <br />accounting records and related data; therefore our audit will <br />involve judgment about the number of transactions to be examined <br />and the areas to be tested. Because we will not perform a <br />detailed examination of all transactions, there is a risk that <br />material errors, irregularities, or illegal acts, including fraud <br />or defalcations, may exist and not be detected by us. We will <br />advise you, however, of any matters of that nature that come to <br />our attention. <br /> <br />We understand that you will provide us with the basic <br />information required for our audit and that you are responsible <br />for the accuracy and completeness of that information. We will <br />advise you about appropriate accounting principles and their <br />application and will assist in the preparation of your financial <br />statements remains with you. This responsibility includes the <br />maintenance of adequate records and related controls, the <br />selection and application of accounting principles, and the <br />safeguarding of assets. <br /> <br /> We understand that your employees will prepare necessary <br />detail schedules, type all cash or other confirmations we request <br />and locate any invoices selected by us for testing. <br /> <br /> Our examination is not specifically designed and cannot be <br />relied on to disclose material weaknesses in accounting controls. <br />However, during the audit, if we become aware of such material <br />weaknesses in internal accounting control or ways that we believe <br />management practices can be improved, we will communicate them to <br />you in a separate letter. <br /> <br />We expect to begin our preliminary testing of records on <br />approximately August 8, 1988, audit field work on approximately <br />September 11, 1988 and issue our report no later than November <br />30, 1988. <br /> <br /> Our fees for these services are based on the actual time <br />spent at our governmental hourly rates plus out-of-pocket costs <br />for report production. Our standard hourly rates vary according <br />to the degree of responsibility involved at the experience level <br />of the personnel assigned to your audit. The hourly rates are <br />enumerated below: <br /> <br /> <br />