TO: Sheryl Sculley, City Manager
FROM: Troy Elliott, CPA, Director, Finance Department
COPIES: Members of the Audit Committee; Ben Gorzell Jr., Chief Financial Officer
SUBJECT: Required Communications with the Audit Committee for the Fiscal Year 2015 Audit
DATE: October 20, 2015
On June 14, 2012, Ordinance Number 2012-06-14-0444 was passed executing an audit services contract with Padgett Stratemann & Co., L.L.P. (PS&Co) to provide independent audit services for fiscal years ending September 30, 2012, 2013 and 2014.
On December 4, 2014, Ordinance Number 2014-12-04-0940 was passed executing the first extension of the audit services contract with PS&Co to provide independent audit services for fiscal year ending September 30, 2015. We are requesting an item be placed on the October 20th agenda of the Audit Committee to present and discuss required communications between PS&Co and the Committee for the fiscal year 2015 external audit. PS&Co began the financial audit for the City of San Antonio on July 22, 2015.
The communications by PS&Co to the Audit Committee as required by the AICPA include:
1. The auditor’s responsibility under generally accepted accounting standards (GAAS).
2. An overview of the planned scope and timing for the fiscal year 2015 audit.
3. Significant findings from the audit (to be provided upon completion).
4. Inquiry of the Audit Committee as to their knowledge of fraud, suspicion of fraud, and views of fraud risk.
If you should have any questions or require additional information, please feel free to contact me at ext. 78604.