| Date | Question | Answer |
|---|
1/15/2019
| Is payroll processed in-house or outsourced? | Outsourced
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1/15/2019
| Are there any specific concerns or areas of emphasis that management or the Board would like auditors to address during audit procedures? | There are no specific areas of concentration.
|
1/15/2019
| Is the agency subject to any regulatory filing requirements? Have there been any instances of noncompliance with laws or regulations that could affect the audit? | The agency is not subject to regulatory filing requirements and there has been no noncompliance with laws or regulations.
|
1/15/2019
| Were there any disagreements with the prior auditors on accounting or auditing matters? Are there any services that you would like to see improved? | There have been no disagreements with prior auditors and no service issues.
|
1/15/2019
| Has there been any turnover in key management or accounting positions over recent years? | No
|
1/15/2019
| How long were the prior auditors in the field and how many auditors where there? | Typically 2 auditors conducted the fieldwork in approximately 9 days including 2 days of preliminary field work before the end of the fiscal year.
|
1/15/2019
| Per review of the PLB website, we noted that there is an auditor on the finance team. Is there an expectation/opportunity to rely on any procedures performed by the internal auditor to reduce external audit procedures? | No. PLB's financial reviews are more compliance driven and less financial in nature.
|
1/4/2019
| Is the Organization aware of any fraud or potential fraud? Is there any current litigation or potential litigation? | The organization is not aware of any fraud or potential fraud and there is no current or potential litigation.
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1/4/2019
| What accounting software is used and do you have any issues with it? | Microsoft Dynamics GP and there are not issues at this time.
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1/4/2019
| Was a management recommendation letter issued by the audit firm and is that available for review? | There is no management recommendation letter
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1/4/2019
| Why is Productive Living Board putting the audit out for bid? Is the current auditor, Anders, being invited to bid? | PLB's audit is put out for bid every 5 years per policy. Yes, the current auditor is invited to bid.
|
12/27/2018
| What was the audit fee for 2018? Were there any additional charges related to the 2018 audit? | $20,800. There were no additional audit fees.
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12/27/2018
| Were there any significant events in this year (fiscal year 2019) that would impact the audit? | No
|
12/27/2018
| Have there historically been adjustments identified as part of the audit process? Can we have a copy of posted audit adjustments from the prior year? Can we have a copy of any passed audit adjustments? | No audit adjustments in 2018. There has been only one minor adjustment in past 5 years and adjustment was booked before closing year.
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12/27/2018
| Related to the audit risk assessment standards, do you have written documentation of the significant processes and documentation of the significant internal controls over those processes? If so, which processes have been documented? | Yes, all major process and significant controls are documented and updated annually.
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12/27/2018
| Who prepares the financial statements including the statement of cash flows, required and additional supplementary information, and notes? Please discuss your understanding of your role in preparation of the financial statements and the role of the audit organization. | Monthly internal financial are prepared with the exception of cash flow statement. Internal financials and audit always reconcile. The final financial statements are managements responsibility with an auditor opinion.
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12/27/2018
| The RFP indicates issuance by September 5th. When is information available for yearend procedures? When will you be ready for the audit to begin? | Preliminary testing can start in June. Primary fieldwork is conducted in mid August.
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