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- i <br /> The method of communication for items deemed to be control <br /> and/or compliance deficiencies is determined and a SAS 114 <br /> letter(informally known as the"management letter") is <br /> drafted. <br /> Reports — All standard audit reports are prepared at this time,including <br /> the independent auditors'report,the report on internal control <br /> over financial reporting and compliance,reports on <br /> compliance with specific requirements applicable to federal <br /> awards and state financial assistance,and any reportable <br /> conditions found. <br /> Reports required by the State of Florida specific to court- <br /> related functions and landfill escrow are prepared,as well as <br /> all other compliance and other reports. <br /> Detail check — After the financial statements and notes are drafted and a <br /> disclosure checklist has been completed, the entire report is <br /> reviewed by the audit manager.Control 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 presentation <br /> is reviewed for proper formatting,spelling,and grammar. <br /> - The audit opinion (and Yellow Book report and/or A-133 <br /> report,as applicable) are compared to current professional <br /> standards for completeness and accuracy. <br /> — Any management letter comments are reviewed for clarity and <br /> appropriateness. <br /> - The County is then provided feedback from the independent <br /> review and follows up on questions/comments accordingly. <br /> Technical standards review Generally on the final day of audit fieldwork,the engagement <br /> principal comes on-site to review the audit team's workpapers <br /> and perform a technical standards review of the financial <br /> statements and management letter. <br /> - Additional technical standards reviews are conducted after the <br /> quality control principal. <br /> Exit conference — While the auditors are still on-site,the draft audit reports and <br /> management letter are provided to and reviewed with <br /> management during an exit conference. <br /> - Audit findings or recommendations are explained in detail, <br /> and an open dialogue is held to ensure that the facts and <br /> circumstances are properly understood by all parties: <br /> — Any open items are summarized in written format and <br /> reviewed with the client. <br /> — The timeline for engagement completion and issuance <br /> (initially agreed-upon as part of the planning meeting) is <br /> reviewed for reasonableness,and updated as needed. <br /> 74 <br />