Article by W. Clay Crook-
The Office of the Tennessee Comptroller has just released their audit results on Henderson County that ended on June 30, 2019. The report says that, “Our audit resulted in five findings and recommendations, which we have reviewed with Henderson County management.” The following are summaries of the audit findings.
Office of the Finance Director
At June 30, 2019, certain general ledger account balances in the General Fund were not materially correct, and audit adjustments totaling $633,062 were required for the financial statements to be materially correct at year-end. Generally accepted accounting principles require Henderson County to have adequate internal controls over the maintenance of its accounting records. Material audit adjustments were required because the county’s financial reporting system did not prevent, detect, or correct potential misstatements in the accounting records. It is a strong indicator of a material weakness in internal controls if the county has ineffective controls over the maintenance of its accounting records, which are used to prepare the financial statements, including the related notes to the financial statements. This deficiency is the result of a lack of management oversight. We presented audit adjustments…
For complete coverage, see the December 4th edition of The Lexington Progress.