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i <br /> Management of the Town of Mashpee, Massachusetts is responsible for <br /> establishing and maintaining a system of internal accounting control. In <br /> fulfilling this responsibility, estimates and judgments by management are <br /> required to assess the expected benefits and related costs of control proce- <br /> dures. The objectives of a control system are to provide management with <br /> reasonable, but not absolute, assurance that assets are safeguarded against <br /> loss from unauthorized use or disposition, and that transactions are <br /> executed in accordance with management's authorization and recorded properly <br /> to permit the preparation of financial statements. <br /> Because of inherent limitations in any system of internal accounting <br /> control, errors or irregularities may occur, and not be detected. Also, <br /> I; <br /> projection of any evaluation of the system to future periods is subject to <br /> the risk that procedures may become inadequate because of changes in <br /> y conditions or that the degree of compliance with the procedures may I !II <br /> ` deteriorate. <br /> Our study and evaluation made for the limited purpose described in the <br /> first paragraph, would not, necessarily, disclose all material weaknesses in �{ <br /> j <br /> the system; accordingly, we do not express an opinion on the system of I , <br /> internal accounting control of the Town of Mashpee, Massachusetts, taken <br /> F as a whole or on any of the categories itemized in the first paragraph. <br /> M: Our study and evaluation and tests of transactions disclosed no condi- <br /> tions that we believe to be a material weakness in internal accounting I� <br /> controls. On the whole, our study showed effective procedures, and adequate <br /> communication between Town departments. <br /> J <br /> There are several areas, however, where we believe improvements can be <br /> achieved in administrative practices and internal accounting control. Our <br /> recommendations accompany this report. We recognize that practical <br /> considerations are an important factor in changing administrative practices <br /> k <br /> or the system of internal accounting control. The Town must weigh the <br /> : z <br /> L <br /> IL <br />