RES 87274 - Laserfiche WebLink

Mr. James R. Walker, City Manager City of Pleasanton June 19, 1987 P age 2 An audit is based primarily on the selective testing of accounting records and related data; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. Because we will not perform a detailed examination of all transactions, there is a risk that material errors, irregularities, or illegal acts, including fraud or defalcations, may exist and not be detected by us. We will advise you, however, of any matters of that nature that come to our attention. We understand that you will provide us with the basic information required for our audit and that you are responsible for the accuracy and completeness of that information. We will advise you about appropriate accounting principles and their application and will assist in the preparation of your financial statements, but the responsibility for the financial statements remains with you. This responsibility includes the maintenance of adequate records and related controls, the selection and application of accounting principles, and the safeguarding of assets. We understand that your employees will prepare necessary detail schedules, type all cash or other confirmations we request and locate any invoices selected by us for testing. Our examination is not specifically designed and cannot be relied on to disclose material weaknesses in accounting controls. However, during the audit, if we become aware of such material weaknesses in internal accounting control or ways that we believe management practices can be improved, we will communicate them to you in a separate letter. Our auditing services to you will be performed by our professional accounting staff. Clerical persons in our office will be responsible for typing, copying and binding reports. The hourly rates are enumerated below: Position Amount Partners $84 Managers $76 Senior Accountants $42 Junior Accountants $34 Clerical $21