Independent Auditor's Report
Independent
Auditor's Report
Report On Compliance And On Internal Control
Over Financial Reporting Based On An Audit
Of Financial Statements Performed In Accordance With
Government Auditing Standards
To
the Wake County Board of Education
Raleigh, North Carolina
We have audited the general purpose financial statements of Wake County Board of Education, North Carolina, as of and for the year ended June 30, 2000, and have issued our report thereon dated September 29, 2000. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether the Wake County Board of Education, North Carolina's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Wake County Board of Education, North Carolina's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the 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 over financial reporting and its operation that we consider to be material weaknesses. We noted other matters involving the internal control over financial reporting that we have reported to management of Wake County Board of Education, North Carolina in a separate letter dated September 29, 2000.
This report is intended solely for the information and use of the audit committee, management and federal and State awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Greensboro,
North Carolina
September 29, 2000