Auditing firm gives schools clean audit
Last modified: Dec. 5, 2012
Ashe County Schools were given a clean audit during Monday's board of education meeting, according to a Statesville-based accounting firm.
On Dec. 3, Mike Wike, of Anderson Smith & Wike, presented results for the firm's audit of Ashe County Schools for the year ended June 30. Wike told board members, after reviewing the system's financial transactions and records, and examining the school system's compliance with major state and federal programs, the firm was able to issue an “unqualified opinion” for the 2011/2012 school year.
“I'm pleased to say this is an unqualified report, or what's called a clean report,” said Wike. “The term ‘unqualified' means, during our testing, there was nothing that would cause us to qualify the report.”
Wike said “unqualified” was the highest level of assurance the auditing firm could give when reviewing financial documents.
Wike's firm was tasked with issuing an opinion on financial statements and compliance with state and federal programs. A clean audit means there are no indications of financial danger or noncompliance with state and federal programs.
Wike's presentation also included a discussion of Ashe County School's financial statements.
“What we mean is compliance with specific state and federal laws, related to funding sources your district gets,” said Wike. “Funding sources come in from different agencies, and each of those have different compliance requirements, and the (board of education) is responsible for meeting each of those.”
Wike said his firm is then tasked with determining if the funds given were spent in the appropriate manner.
The internal control aspect of that means the controls are designed to prevent fraud and theft within the school district.
No exceptions or qualifications were noted. Wike also said the firm found “no compliance findings,” which means there were no compliance violations that needed to be reported to the board and the federal government.
“There were no such items,” said Wike.
Wike told board members his firm is required to communicate certain things to the board, including the planned scope and timing of the audit, the quality of estimations, and difficulties encountered during the audit.
“We're pleased to say that the time of the audit went as planned,” said Wike. “There wasn't anything that made us delayed, and nothing that made us limit the scope.”
Wike told the board of education that estimations within the board's accounting figures had “solid backup and support for the numbers,” and said no difficulties were encountered with management during the process.
“Management was very open and helpful to all our requests,” said Wike. “We felt we were granted full access to anything that we wanted to look at.”