Grading Rubric Criteria What the question is seeking in an answer. Compare and contrast the This question is asking you to compare the town of CAFRs in three categories - Winston-Salem, NC to the town of Cary, NC in three publication method, the areas. existence or non-existence of an internal audit function and What is the publication method of each of their at least two key features of CAFRS? the external audit Does each town have an internal audit information. function? (Remember that an internal audit function is not the same as internal controls.) Provide two key features of the external audit information contained in each CAFR Analyze each of the three This question is asking you to answer all the sections of the assigned local government CAFR using the questions for the Chapter 2 Continuing problem for questions presented in the town of Winston-Salem, NC. Those questions are Chapter 2 Continuing Problem found on pages 82-83 of the textbook. as a basis. Analyze the local government This question has two parts. First you are to analyze methods used in preparation of the Budget-to-Actual the methods used to prepare the budget to actuals - reports in the CAFR, including For example, the basis of accounting used, Which financial statements do they present significant variances, and other local government these comparisons for? financial-related legal or What is the basis of accounting used? contractual requirements