1992-1998-FISCAL AUDITS - Laserfiche WebLink

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ti ACCOUNTING CONTROLS: I' • Treasury/financing • Revenues/receipts jl • Purchases/disbursements r' • External financial reporting v i For all of the control categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. I, Our considerations of the internal control structure would not necessarily disclose i' all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in rela- tion to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control struc- ture and its operation that we consider to be material weaknesses as defined above. We noted other matters involving the internal control structure and its operation that we have reported to the management of the Town of Mashpee, Massachusetts in a separate letter dated January 19, 1996. This report is intended for the information of the Town's management and all applic- able federal and state agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which, upon accept- ance by the Town of Mashpee, Massachusetts, is a matter of public record. Greenfield, Massachusetts January 19, 1996 i t 23