OAR 162-010-0320: Other Comments and Disclosures

(1) The independent auditor shall include such other comments or disclosures with respect to the review of fiscal affairs and compliance with legal requirements as may be appropriate in the circumstances. (2) Other comments and disclosures may include those related to any county cost audit performed in accordance with ORS 297.525. A cost audit may be performed at a county, specific to any road fund, if (1) the county performs their own road work, (2) the road fund is reported as a major fund, and (3) the county and accountant engagement terms include a cost audit in the scope of work. The cost audit does not consist of specific procedures required by these Minimum Standards; the objectives are to verify the cost of performance and administration of county road work performed by the county, establish the accuracy of costing data and expense records, and determine whether the county adhered to approved budgets and planning. Contracted road work is not subject to cost auditing. The auditor should perform cost audit procedures in accordance with professional standards, be responsive to the auditor’s risk assessment procedures, and consider the intent of material compliance as imbedded within these Minimum Standards for audits.