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• The advantage of this system is that any account coding <br />changes or journal entries discovered through the audit <br />process can be posted to the auditors' version of the trial <br />balance. <br />Footnotes a_ • Review notes to financial statements using a current <br />disclosure checklist to ensure completeness. <br />• Obtain supporting documentation for disclosures not directly <br />linked to the trial balance or financial statements, such as: <br />retirement and other postemployment benefit plan funding <br />progress and funded status, related party transactions, <br />subsequent events, etc. <br />SAS 114 letter • Through the audit process, the engagement team will keep a <br />list of potential audit issues and/or internal control or <br />efficiency recommendations. <br />• Near completion of fieldwork, the potential items are <br />reviewed and discussed amongst the audit team. <br />• The method of communication for items deemed to be <br />control and/or compliance deficiencies is determined and a <br />SAS 114 letter (informally known as the "management <br />letter") is drafted. <br />Other reports • If the County is subject to a single audit in accordance with <br />the Uniform Guidance (by expending at least $750,000 in <br />Federal awards in any given fiscal year), the reports on Single <br />Audit Act compliance will be prepared. <br />Detail check <br />• After the financial statements and notes are received a <br />disclosure checklist is completed, and the entire report is <br />reviewed by another individual. Controls totals are compared <br />between statements and schedules, numbers are footed and <br />cross -footed, footnotes are agreed to the underlying financial <br />statement amounts (when applicable), and overall <br />presentation is reviewed for proper formatting, spelling, and <br />grammar. <br />• The audit opinion (and fellow Book report and/or single <br />audit report, as applicable) are compared to current <br />professional standards for completeness and accuracy. <br />• Any management letter comments are reviewed for clarity <br />and appropriateness. <br />• Management is then provided feedback from the <br />independent review-. <br />Technical standards review • Additional technical standards reviews are conducted after <br />fieldwork by a principal not associated with the engagement <br />(i.e.. a "cold review" of the statements). <br />�aRehmann <br />