Audit Committee Update CAFR Assistance Project March 25, 2010.

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Presentation transcript:

Audit Committee Update CAFR Assistance Project March 25, 2010

2 Crowe Horwath LLP is a member of Crowe Horwath International, a Swiss association. Each member firm of Crowe Horwath International is a separate and independent legal entity. Crowe Horwath LLP and its affiliates are not responsible or liable for any acts or omissions of Crowe Horwath International or any other member of Crowe Horwath International and specifically disclaim any and all responsibility or liability for acts or omissions of Crowe Horwath International or any other Crowe Horwath International member. Accountancy services in Kansas and North Carolina are rendered by Crowe Chizek LLP, which is not a member of Crowe Horwath International. © 2010 Crowe Horwath LLP FY 2009 Audit Results Material Weakness and Significant Deficiencies Material Weakness: 1.Accounting for Capital Assets (updated from fiscal years ) ; Significant Deficiencies: 1.Accounting for Contractual Arrangements in a Decentralized Environment (updated from two related Material Weakness in fiscal year 2008); 2.Documentation of Policies and Procedures Related to Accounting and Financial Reporting (updated from fiscal years ); 3.Computer System Access Controls (updated from fiscal years ) ; 4.Change Management of Computer Controls (updated from fiscal years ).

3 Crowe Horwath LLP is a member of Crowe Horwath International, a Swiss association. Each member firm of Crowe Horwath International is a separate and independent legal entity. Crowe Horwath LLP and its affiliates are not responsible or liable for any acts or omissions of Crowe Horwath International or any other member of Crowe Horwath International and specifically disclaim any and all responsibility or liability for acts or omissions of Crowe Horwath International or any other Crowe Horwath International member. Accountancy services in Kansas and North Carolina are rendered by Crowe Chizek LLP, which is not a member of Crowe Horwath International. © 2010 Crowe Horwath LLP

4 Crowe Horwath LLP is a member of Crowe Horwath International, a Swiss association. Each member firm of Crowe Horwath International is a separate and independent legal entity. Crowe Horwath LLP and its affiliates are not responsible or liable for any acts or omissions of Crowe Horwath International or any other member of Crowe Horwath International and specifically disclaim any and all responsibility or liability for acts or omissions of Crowe Horwath International or any other Crowe Horwath International member. Accountancy services in Kansas and North Carolina are rendered by Crowe Chizek LLP, which is not a member of Crowe Horwath International. © 2010 Crowe Horwath LLP

5 Crowe Horwath LLP is a member of Crowe Horwath International, a Swiss association. Each member firm of Crowe Horwath International is a separate and independent legal entity. Crowe Horwath LLP and its affiliates are not responsible or liable for any acts or omissions of Crowe Horwath International or any other member of Crowe Horwath International and specifically disclaim any and all responsibility or liability for acts or omissions of Crowe Horwath International or any other Crowe Horwath International member. Accountancy services in Kansas and North Carolina are rendered by Crowe Chizek LLP, which is not a member of Crowe Horwath International. © 2010 Crowe Horwath LLP Response to FY 2009 Audit Results Corrective Actions for the Audit Comments fall within the following categories: Develop and implement policies and procedures; Implement a new accounting system; Consider centralization of financial services; Improve departmental communication; Conduct security assessment; Train and supervise staff; and Identify change management monitoring tools. Corrective Actions Status Tracker