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City of Paris <br />February 3, 2017 <br />Page 2 <br />Audit Obiectives (Continued) <br />Internal control related to the financial statements and compliance with laws, regulations, and the <br />provisions of contracts or grant agreements, noncompliance with which could have a material effect <br />on the financial statements in accordance with Government Auditing Standards. <br />Internal control related to major programs and an opinion (or disclaimer of opinion) on compliance <br />with laws, regulations, and the provisions of contracts or grant agreements that could have a direct <br />and material effect on each major program in accordance with the audit requirements of Title 2 U.S. <br />Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and <br />Audit Requirements for Federal Awards (Uniform Guidance). <br />The reports on internal control and compliance will each include a statement that the report is intended for the <br />information and use of management, specific legislative or regulatory bodies, federal awarding agencies, and <br />if applicable, pass - through entities and is not intended to be and should not be used by anyone other than these <br />specified parties. <br />If engaged, our audit will be conducted in accordance with auditing standards generally accepted in the United <br />States of America; the standards for financial audits contained in Government Auditing Standards, issued by <br />the Comptroller General of the United States; the Single Audit Act Amendments of 1996; and the provisions <br />of the Uniform Guidance and will include tests of accounting records, a determination of major program(s) in <br />accordance with the Uniform Guidance, and other procedures we consider necessary to enable us to express <br />such an opinion and to render the required reports. If our opinion on the financial statements or the Single <br />Audit compliance opinion is other than unmodified, we will fully discuss the reasons with you in advance. If, <br />for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we <br />may decline to express an opinion or to issue a report as a result of the engagement. <br />Management Responsibilities <br />Management is responsible for establishing and maintaining internal controls, including monitoring ongoing <br />activities; for the selection and application of accounting principles; for the fair presentation in the financial <br />statements of the respective financial position of the governmental activities, the business -type activities, the <br />discretely presented component unit, each major fund, and the aggregate remaining fund information of the <br />City and the respective changes in financial position and, where applicable, cash flows in conformity with <br />accounting principles generally accepted in the United States of America; and for federal award program <br />compliance with applicable laws and regulations and provisions of contracts and grant agreements. <br />Management is responsible for the financial statements and all accompanying information as well as all <br />representations contained therein, including preparation of management's discussion and analysis. <br />You are responsible for management decisions and functions. If engaged, we will prepare a draft of your <br />financial statements, schedule of expenditures of federal awards, and related notes. In accordance with <br />Government Auditing Standards, you will be required to review and approve those financial statements prior <br />to their issuance and have responsibility to be in a position in fact and appearance to make an informed <br />judgment on those financial statements. Further, you are required to designate a qualified management -level <br />individual to be responsible and accountable for overseeing our services. <br />Management is responsible for making all financial records and related information available to us, including <br />identifying significant vendor relationships in which the vendor has the responsibility for program compliance <br />and for accuracy and completeness of that information. Management's responsibilities include adjusting the <br />financial statements to correct material misstatements and for confirming to us in the representation letter that <br />the effects of any uncorrected misstatements aggregated by us during the current engagement and pertaining <br />