Financial Audits

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Course Description

This course describes the CBOC receiving and reviewing before March 31 for the fiscal year ended before June 30, the required annual financial audit prepared by the district’s auditor, including how the CBOC should participate in the determination of scope, entrance conference, review of the draft report, exit conferences and presentation of the final report to the CBOC and recommendations to the governing board.

Videos

What Annual Audits are Required?
https://youtu.be/UXl0Jg1I_8M

2021 Conference Presentations on YouTube
Financial Audits presentation by Mac Moore
https://youtu.be/PVh_955wg0M

Best Practices

FAQs

FAQ 58. Are the Auditors Accountable to the CBOC As Well As the District?
https://www.bondoversight.org/faq58/

FAQ 64. What is the Difference Between the General Financial Audit for the Entire District and the Required Financial and Performance Audits of the Bond Program(s)?
https://www.bondoversight.org/faq64/

FAQ 65. Who is Responsible for Fraud Assessments?
https://www.bondoversight.org/faq65/

Legal Resources

California Legislative Information
https://leginfo.legislature.ca.gov/

Resources

Audit Guide
https://www.bondoversight.org/wp-content/uploads/2023/01/Appendix-A-PerformanceAudit.pdf

Government Auditing Standards. By the Comptroller General of the United States
https://www.gao.gov/assets/gao-18-568g.pdf

Best Practices Bond Oversight Committees
https://www.bondoversight.org/wp-content/uploads/2022/11/Best-Practice-s-Oversight-Committees-SDCTA-5.23.19.pdf

Checklist

Example

Course Evaluation

Need to develop