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How to use or fill out Oregon Report in Lieu of Audit Fillable Form
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Click ‘Get Form’ to open it in the editor.
Begin by entering the 'Fiscal Year Reported' at the top of the form. This should reflect your government's fiscal year, such as July 1, 20X1 through June 30, 20X2.
Fill in the 'Name of government' using its official legal name, followed by the mailing address including street or PO Box, city, county, and zip code.
Designate a 'Registered Agent' by providing their name and title along with their address. Ensure this matches your district's registered office.
List all officers who governed during the reported period. Include their names, titles, and addresses.
Complete the section on Fidelity or Performance Bond by entering the name of the company, person covered, and bond amount.
Report balances for cash and other assets as well as accounts payable and long-term debt in the designated fields.
Finally, certify the report by typing or signing your name as an elected official responsible for its accuracy before submitting it electronically or via mail.
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A financial audit is an examination of a municipalitys financial records, accounts, business transactions, accounting practices and internal controls.
What is the municipal audit law in Oregon?
Municipal Audit Law requires audits be performed pursuant to a contract between the independent accountant and the governing body, or managing or executive officer, of the municipal corporation. Laws governing contracts are prescribed in the Oregon Public Contracting Code, ORS Chapters 279A, 279B, and 279C.
What is an audit report in company law?
An audit report is a formal, independent assessment in which an auditor shares their opinion on an organizations financial performance, internal controls or regulatory compliance.
What is a report in lieu of audit Oregon?
A Report in Lieu of Audit is a financial statement that certain eligible local governments in Oregon file with the Secretary of State Audits Division instead of undergoing a full external audit.
What is a clear audit report?
A company receives a clean report when it shows it follows the standards set by the GAAP. This is the most desired and common type of audit report. In the report document, an auditor expresses their belief that the company has a good financial standing and complies with the laws and governing principles of accounting.
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