The annual audit of the City of Rincon’s finances for the year ended Dec. 31, 2013, found two material weaknesses. The report by Caines, Hodges & Co. P.C., of Rincon found two internal control issues: revenues and receivables not property reconciled and improperly recorded purchases. A material weakness is one that could result in a misstatement of the city’s financial statements. In the first instance, the audit firm said utility fund receivables and revenues were materially misstated.
Comment on Rincon audit finds two material weaknesses
G.G. Rigsby, Savannah Morning News
Tue, 07/29/2014 - 9:08pm
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