Monday, Aug. 7, 2006 | The Mayer Hoffman firm did not perform any “audits.” To describe them as “auditors” under these circumstances is misguided.
It’s either an audit or it isn’t. You can tell from the auditor’s letters, from their written reservations and limitations that they do not suggest that people can rely upon this as they would upon a conventional audit opinion.
Beyond that, the most notable part of the report is that an awful lot of information that should have been available and helpful to them in their work was not available and, is remarkably missing.
It’s hard for us that want to believe in these efforts as the way out of our troubles to recognize that the game does not seem to change.
See below:
- Page 1 of the Mayer Hoffman Aug. 7, 2006 letter to Mr. Goldstone: “…a formal opinion is not expressed…readers can draw their own conclusions based upon the evidence disclosed…”
- Page 3 of the Mayer Hoffman August 2, 2006 Independent Accountant’s Report on Agreed-Upon Procedures Applied to Water Fund Rate Increases: “We were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the subject matter. According, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.”
- Page 4 of the Mayer Hoffman August 2, 2006 Independent Accountant’s Report on Agreed-Upon Procedures Applied to Use of Water Fund Bond Proceeds: “We were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the subject matter. According, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.”
- Page 3 of the Mayer Hoffman August 2, 2006 Independent Accountant’s Report on Agreed-Upon Procedures Applied to Use of Wastewater Fund Bond Proceeds: “We were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the subject matter. According, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.”
- Page 9 of the Mayer Hoffman August 2, 2006 Independent Accountant’s Report on Agreed-Upon Procedures Applied to Water Fund Transfers to Other Funds: “We were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the subject matter. According, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.”
- Page 7 of the Mayer Hoffman August 2, 2006 Independent Accountant’s Report on Agreed-Upon Procedures Applied to WasteWater Fund Transfers to Other Funds: “We were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the subject matter. According, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.”