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tate
ditor's
ffice
John Keel, CPA
State Auditor
A Review of
Selected Fiscal Year 2004 Operations of
the Board of Public Accountancy:
A Self-Directed Semi-Independent Agency
January 3, 2005
Members of the Legislative Audit Committee:
We have reviewed the Board of Public Accountancy's (Board) (1) Combined Balance Sheet/Statement of Net Assets-
Government Funds as of August 31, 2004, and (2) related statement of Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances/Statement of Activities-Governmental Funds for the year then ended, in
accordance with attestation engagement standards established by the American Institute of Certified Public
Accountants (AICPA) and attestation engagement standards within generally accepted government auditing standards
established by the U.S. Government Accountability Office (GAO).
All information included in these financial statements is the Objectives, Scope, and Methodology
representation of the management of the Board. The ob iectives of thi reieh were
A review consists principally of inquiries of personnel and analytical
procedures applied to financial data. It is substantially less in scope
than an audit conducted in accordance with generally accepted
auditing standards, the objective of which is the expression of an
opinion regarding the financial statements taken as a whole.
Accordingly, we do not express such an opinion.
Based on our review, we are not aware of any material modifications
that should be made to these financial statements in order for them to
be in conformity with generally accepted accounting principles.
Compliance with Selected Requirements of the Self-Directed
Semi-Independent Agency Project Act
We also determined that the Board is in compliance with selected
requirements of the Self-Directed Semi-Independent Agency Project
Act.
.1 SAO Report No. 05-0 17
Robert E. Johnson Building
1501 North Congress Avenue
Austin, Texas 78701
P.O. Box 12067
Austin, Texas 78711 -2067
Phone: (512) 936-9500
Fax: (512) 936-9400
Internet: www.sao.state.tx.us
Provide limited assurance that there are no
material modifications that should be made to
the Board's financial statements to conform
with generally accepted accounting principles.
- Verify the Board's compliance with selected
sections of the Self-Directed Semi-Independent
Agency Project Act.
Our scope included examining data that the Board
will submit to the 79th Legislature to fulfill the
requirements of Vernon's Texas Civil Statutes,
Article 8930 (8), Self-Directed, Semi-Independent
Agency Project Act.
Our methodology consisted primarily of making
inquiries of Board personnel and applying
analytical procedures to financial data.
We conducted this review in accordance with
attestation engagement standards established by
of the American Institute of Certified Public
Accountants and attestation engagement
standards within generally accepted government
auditing standards established by the U.S.
Government Accountability Office. We have
chosen not to comply with a reporting standard
that specifies the wording that should be used in
discussing restrictions on the use of the report.
We believe the use of such wording is not in
alignment with our role as a legislative audit
function.
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