IVGID’s Auditor refuses to issue audit opinion
CPA firm Davis Farr issued a “Disclaimer of Opinion” letter to the Incline Village General Improvement District for the audit of its fiscal year ending June 30, 2023. A disclaimer of opinion means there was not sufficient, appropriate evidence for auditors to even issue an opinion. The letter, dated March 27, 2024, stated these reasons: The introduction of a new accounting system in July 2022 and significant turnover of District finance staff resulted in numerous misstatements in the accounting records. As of the date of our audit report, management was still in the process of identifying and correcting system deficiencies. … Continue reading →