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AC 02-24-2022 Presentations
City of Cupertino 6/30/2021 Audit Audit Committee Update February 24, 2022 Audit Update Crowe Exchange Request © 2022 Crowe LLP Year End Audit Update •Financial Statement Audit •Final testing substantially completed pending subsequent event procedures •Unmodified opinion •Emphasis of a matter –implementation of GASB Statement 84, Fiduciary Activities •Draft acceptance and finalization •Investment AUP, GANN AUP and Storm Drain AUP •Procedures completed •No findings noted •Draft acceptance and finalization © 2022 Crowe LLP Single Audit •OMB Extended Deadline –September 30, 2022 •2 major programs –Coronavirus Relief Funds (CRF) and Highway Planning and Construction (HPC) •Procedures are underway –expected completion upon receipt of open items “Crowe” is the brand name under which the member firms of Crowe Global operate and provide professional services, and those firms together form the Crowe Global network of independent audit, tax, and consulting firms. “Crowe” may be used to refer to individual firms, to several such firms, or to all firms within the Crowe Global network. The Crowe Horwath Global Risk Consulting entities, Crowe Healthcare Risk Consulting LLC, and our affiliate in Grand Cayman are subsidiaries of Crowe LLP. Crowe LLP is an Indiana limited liability partnership and the U.S.member firm of Crowe Global. Services to clients are provided by the individual member firms of Crowe Global, but Crowe Global itself is a Swiss entity that does not provide services to clients. Each member firm is a separate legal entity responsible only for its own acts and omissions and not those of any other Crowe Global network firm or other party. Visit www.crowe.com/disclosure for more information about Crowe LLP, its subsidiaries, and Crowe Global. The information in this document is not –and is not intended to be –audit, tax, accounting, advisory, risk, performance, consulting, business, financial, investment, legal, or other professional advice. Some firm services may not be available to attest clients. The information is general in nature, based on existing authorities, and is subject to change. The information is not a substitute for professional advice or services, and you should consult a qualified professional adviser before taking any action based on the information. Crowe is not responsible for any loss incurred by any person who relies on the information discussed in this document. © 2022 Crowe LLP. Thank you