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Audit and Assurance Services

 

State Government

Our teams that provide audit services for state government and higher education institutions collaborate to produce financial reports that include the Comprehensive Annual Financial Report (CAFR), Single Audit Report, and the Budgetary Compliance Report (BCR). Each of these reports include a combination of financial statement audits, agreed-upon procedures engagements, and financial and compliance management reviews. We conduct annual financial and compliance audits and reviews for approximately 70 state governmental units.

Education

We conduct annual financial audits of the local education agencies (LEAs). These audits are conducted to ensure accountability over billions of dollars in quality basic education (QBE), federal, and local funding for the state’s K-12 education programs. Currently, the Department conducts more than 160 education-related engagements each year.

Performance

We conduct in-depth performance audits and special examinations of state programs that result in improved efficiency and effectiveness, better management, cost savings, cost avoidance, budgetary and statutory changes, and/or the identification of fraud, waste, or abuse.

Technology Risk & Assurance

We also have teams that assess IT risk and the effectiveness of the information technology control environment for the state. The IT general and application controls are evaluated to support financial auditors in planning and determining the nature, timing, and extent of audit procedures to be performed in support of the CAFR.

Nonprofit & Local Government

We review annual audited financial statements and the corrective action plans of about 800 local government entities. We also review the financial statements of about 500 nonprofit organizations that contract with the state. Each review ensures all entities are in compliance with GAAP and/or GAGAS.

Additionally, we help the local government entities improve their financial reporting by hosting annual seminars in several regions across the state called the State Auditor Training Program. To date, we’ve helped educate more than 2,000 local government officials and their independent auditors.

Sales Ratio

We have a team of specialists that handle more than 4 million taxable properties and up to 700,000 real estate transactions. In addition, we conduct nearly 4,000 property appraisals each year, which help determine how funding for QBE is distributed throughout the state.