My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2023 24 RESOLUTION
DOcument-Host
>
Mayfield Village
>
Ordinances Resolutions
>
2023 Resolutions
>
2023 24 RESOLUTION
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/23/2023 9:09:46 AM
Creation date
3/23/2023 8:50:47 AM
Metadata
Fields
Template:
Legislation-Meeting Minutes
Document Type
Resolution
Number
2023-24
Date
3/20/2023
Year
2023
Title
2022 AUDIT
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
12
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
Village of Mayfield <br />March 8, 2023 <br />Page 5 <br />Service Organizations: <br />Service organizations are other governmental entities, organizations or companies that provide services to <br />you, as the user Village relevant to your internal controls over financial reporting. Service organizations <br />process transactions reflected in your Village's financial statements, and therefore fall within the scope of <br />our audit. While service organizations are responsible for establishing and maintaining their internal control, <br />you are responsible for being aware of the service organizations your Village uses, and for establishing <br />controls to monitor the service organization's performance. Because the complexity of service organization <br />transaction processing can vary considerably, your monitoring activities can vary accordingly. <br />When transaction processing is complex and the volume of transactions is relatively high, obtaining and <br />reviewing a service organization auditor's Independent Service Auditor's Report on Management's <br />Description of a Service Organization's System and the Suitability of the Design and Operating <br />Effectiveness of Controls Report (Type 2 Service Organization Control Report (SOC 1)) may be the most <br />effective method of meeting your responsibility to monitor a service organization, and may also be the only <br />efficient means by which we can obtain sufficient evidence regarding their internal controls. AT -C Section <br />320, Reporting on an Examination of Controls at a Service Organization Relevant to User Entities' Internal <br />Control Over Financial discusses the aforementioned report. (In some circumstances, we can accept a <br />suitably -designed agreed-upon procedures report (AUP) in lieu of a SOC 1 report.) <br />You are responsible for informing our staff of the service organizations your <br />Vintage uses, and for monitoring these service organizations' performance. <br />Service organizations of which we are aware are: <br />• Regional Income Tax Agency, which collects your Village's income taxes. <br />• Life Force Management, which bills and collects your Village's EMS charges for services. <br />• Cuyahoga County, which bills and collects your property taxes. <br />Please confirm to us that, to the best of your knowledge, the above listing is complete. <br />Of the service organizations above, those for which we believe the complexity of processing and volume of <br />transactions warrant a SOC 1 (or AUP) report are: <br />• Regional Income Tax Agency, which collects your Village's income taxes <br />• Life Force Management, which bills and collects your Village's EMS charges for services <br />Without an acceptable SOC 1 or AUP report for the above -listed organizations, generally accepted auditing <br />standards may require us to qualify our opinion on your Village's financial statements due to an insufficiency <br />of audit evidence regarding service organization transactions included in your Village's financial statements. <br />You are responsible for communicating the need for a SOC 1 or AUP report to these service organizations. <br />REPRESENTATIONS FROM MANAGEMENT <br />Upon concluding our engagement, management and, when appropriate, those charged with governance <br />will provide to us written representations about the audit that, among other things, will confirm, to the best <br />of their knowledge and belief: <br />• management's responsibility for preparing the financial statements and relevant disclosures in <br />conformity with the Village's accounting basis; <br />• the availability of original financial records and related data, the completeness and availability of <br />all minutes of the legislative or other bodies and committee meetings; <br />• management's responsibility for the Village's compliance with laws and regulations; <br />
The URL can be used to link to this page
Your browser does not support the video tag.