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Posted: Wednesday, 06 November 2013 12:00PM

Auditor Reports On Christian County And Caldwell County Sheriff



State Auditor Adam Edelen Wenesday released the audit of the 2012 financial statement of Christian County Sheriff Livy Leavell. Recent changes in auditing standards require the auditor’s letter to communicate whether the financial statement presents fairly the revenues, expenditures and excess fees of the Christian County Sheriff in accordance with generally accepted accounting principles in the United States.

The report found that the financial statement of the Sheriff did not follow this format, however, the report states the Sheriff’s financial statement is fairly presented in conformity with the regulatory basis of accounting, which is an acceptable reporting methodology. The auditor noted no instances of noncompliance and no matters involving internal control over financial reporting and its operation that were considered to be material weaknesses.

The Auditor also released the report for the Caldwell County Sheriff's Office. The audit found that the sheriff’s financial statement fairly presents the taxes charged, credited and paid, for the period, April 17, 2012 through April 18, 2013 in conformity with the modified cash basis of accounting.

The audit also reported that the Caldwell County Sheriff’s Office lacks adequate segregation of duties. The report stated that due to a limited number of staff and the diversity of operations, the bookkeeper is required to perform multiple tasks such as the collection of cash from customers, deposit preparation, bookkeeping, bank reconciliations, the preparation of monthly reports, and the preparation of checks for disbursements.

The Auditor states segregation of duties over these tasks, or the implementation of compensating controls when limited by staff, is essential for providing protection from asset misappropriation and helping prevent inaccurate financial reporting. Additionally, proper segregation of duties protects employees in the normal course of performing their daily responsibilities. The report went on to note that, in order to help offset the risks associated with the lack of segregation of duties, the Sheriff has implemented compensating controls such as a review of monthly bank reconciliations and dual signatures on checks.

However, the Auditor recommends additional compensating controls such as comparisons between the daily collection reports and daily deposits and daily collection reports and monthly tax reports.

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