Agenda

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Finance Committee

Meeting Date:	08/29/2017
FROM:	Bill Gallardo

Subject:

Meeting with Vavrinek, Tryne, Day & Co, LLP Pursuant to Statement on Auditing Standards (SAS) No. 114

RECOMMENDATION

Receive and File.

BACKGROUND/DISCUSSION

Pursuant to Resolution 2016-044, the two City Council members assigned to the Brea Finance Committee shall perform certain Audit Committee duties. These duties include a meeting with the City's independent auditor before the City's annual audit begins in accordance with Statement on Auditing Standards (SAS) No. 114 to discuss the level and focus of the City's annual audit.

Brea's independent auditor firm, Vavrinek, Tryne, Day & Co., LLP have provided the attached letter to the City Council regarding the City's annual audit. Jessica Andersen, CPA, the partner in charge of the annual audit and other audit staff will be present at the meeting to discuss the City's upcoming annual audit with the two City Council members assigned to the Finance Committee. It is noted that the initial audit work for the City began on August 7, 2017. However, final audit work will not be conducted until October 2017.

SUMMARY/FISCAL IMPACT

There is no fiscal impact related to this annual meeting.

RESPECTFULLY SUBMITTED

William Gallardo, City Manager
Prepared by: Cindy Russell, Administrative Services Director

Attachments
Audit Planning Letter