Unqualified Audit Report. Following is the unqualified audit report for the City of Sand Key.
The Honorable Mayor
Members of the City Commission and
City Manager
City of Sand Key
We have audited the accompanying financial statements of the City of Sand Key (the City) as of and for the year ended September 30, 2011. These financial statement are the responsibility of the City’s management. Our responsibility is to express an opinion on these financial statements based on our audit
We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audit contained in the Government Audit Standards, issued by the Comptroller General of the United States. Those standards require that we plan and the audit to obtain a reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statement referred to above present fairly in all material respects, the financial position of the City as of September 30, 2011, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America.
Our audit was conducted for the purpose of forming an opinion on the financial statements taken as a whole. The information presented in the Statistical Section is presented for the purpose of additional analysis and is not a required part of the basic financial statement. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statement and, accordingly, we express no opinion on it.
Steele and Steele, PA.
January 12, 2012
Required
Based on your knowledge of audit reporting requirements for government audits, you have determined that the audit report issued by Steele and Steele does not meet requirements. Provide a list of changes that would need to be made to the audit report to bring it into conformance with audit report requirements.