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MELANSON, GREENWOOD <br /> & COMPANY, P.A. <br /> { CERTIFIED PUBLIC ACCOUNTANTS <br /> Board of Selectmen <br /> Town of Mashpee, Massachusetts <br /> !43 <br /> F 'r� <br /> We have audited the financial statements of the Town of Mashpee, <br /> Massachusetts, as of and for the year ended June 30, 1992, and have <br /> issued our report thereon dated September 18, 1992. As part of audit, <br /> we made a study and evaluation of the Town's system of internal <br /> accounting control to the extent we considered necessary to evaluate <br /> sthe system as required by generally accepted auditing standards. <br /> Under these standards, the purpose of such evaluation's are to <br /> s establish a basis for reliance on the system of internal accounting <br /> control in determining the nature, timing, and extent of other <br /> 1 auditing procedures that are necessary for expressing an opinion on <br /> the financial statements. <br /> W <br /> The management of the Town of Mashpee, Massachusetts, is responsible <br /> for establishing and maintaining a system of internal accounting <br /> control. In fulfilling this responsibility, estimates and judgements <br /> by them are required to assess the expected benefits and related costs <br /> of control procedures. The objectives of such a system are to provide <br /> reasonable but not absolute assurance that assets are safeguarded <br /> against loss from unauthorized use or disposition, that transactions <br /> are executed in accordance with required authorization and recorded <br /> properly to permit the preparation of financial statements in <br /> accordance with generally accepted accounting principles. <br /> - 1 - <br />