Tax season is approaching, and even municipalities have to put their affairs in order. To that end, County of Wetaskiwin council accepted BDO Dunwoody LLP’s Terms of Audit Engagement letter at their regular meeting Jan. 10.
Councilors also received the audit planning letter as information.
Dan Luymes, CPA, Ca, from BDO Dunwoody LLP Chartered Accountants, requested an audience with council to present the documents.
County CAO Frank Coutney said by phone Jan. 11 that the letter explains what the auditors will do, and they will do it according to what is set out by professional accounting standards.
“By assessing risk, internal controls of the County, and materiality the auditors determine how much work is required for the audit to allow them to attain reasonably assurance that the Financial Statements are not materially misstated,” stated the council agenda.
It’s also an opportunity for councilors to ask questions. Coutney said councilors did not ask any questions and accepted everything for information.