HomeMy WebLinkAbout16 Attachment 1 Moss Adams_Audit_Presentation_TDPUD_20210602Truckee Donner Public
Utility District
Final Audit Communication with Those Charged
with Governance
June 2, 2021
Agenda
1.Engagement Team
2.Nature of Services Provided
3.Significant Audit Areas
4.Audit response to COVID
5.Auditor Opinions / Reports
6.Required Communications
Your Dedicated Team
Julie Desimone
Partner and
Technical
Resource
Scott Simpson
Concurring
Reviewer, Partner
Keith Simovic
Engagement Reviewer
Jared Brownson
In-Charge Auditor
Nature of Services Provided
Independent Auditors' Report on the
financial statements of Truckee Donner
Public Utility District - consolidated
1 Independent Auditors' Report on the
financial statements of Truckee
Donner Public Utility District –
Primary Government Only
2
Assistance with, and technical
review of the financial statements
and ACFR for compliance with
GAAP and GFOA award for
excellence in financial reporting
3 Communication to Those Charged
with Governance4
Communication to Those Charged
with Governance
WORK ORDERS-
CLASSIFICATION
Significant Audit Areas
CONSISTENT
APPLICATION OF
INTERNAL
CONTROLS IN A
REMOTE WORK
ENVIRONMENT
IT SECURITY AND
ACCESS
CUSTOMER
RECEIVABLES -
ALLOWANCE
CUSTOMER BILLINGS -
ACCURACY
Audit response to COVID
•Audit performed in a remote environment
•Utilized technology and electronic audit tools
•Updated risk assessments
•Internal controls testing of transactions before and after COVID
•Review of the related disclosures for transparency
7
Audit Opinion/ Reports
Financial
Statements -
consolidated
Unmodified
(clean) opinion
Financial
Statements –
Primary
Government
Only
Unmodified
opinion
Communication
to Those
Charged with
Governance
No material
weaknesses
8
Required Communication
•Auditor’s responsibility under auditing standards
•Significant accounting policies – No impacts from new
accounting standards adopted
•Management judgments & accounting estimates
•Audit adjustments made and passed – next slide
•Management’s consultation with other accountants
•No disagreements with management
•No difficulties in performing the audit
•Audit observations and recommendations – next slide
Audit Adjustments
Material Audit Adjustments Amount
None noted
Passed Reclassification Adjustments Amounts
To reclassify work orders in commercial operation to
plant in service at December 31, 2020 $998,000
8
Internal Control Recommendations
Internal Control Recommendations Category
Timeliness of work order close process Control Deficiency
Review of changes to existing vendors Best Practice
Documented, periodic review of user access Best Practice
11
11
Acknowledgements
Thank you Michael Salmon, Melanie Rives, and their staff for
their excellent facilitation of the audit process.
•The audit progressed on time and in an orderly fashion; all
requested schedules and draft financial statements were received
on a timely basis.
•All personnel across all departments were courteous, responsive,
and fulfilled all our requests in a timely manner.
•‘Tone at the Top’ and attitude from management was one of
helpfulness, candor, and openness in response to audit requests
and discussion points.
Contact Us
Keith.simovic@
mossadams.com
(503) 478-2284
Keith Simovic++Jared Brownson+
Scott. simpson@
mossadams.com
(503) 478-2315
Jared.brownson@
mossadams.com
(971) 313-5025
Scott Simpson
Thank You