Tulsa Public Schools desires the auditor to express an opinion on the fair presentation of its basic financial statements in conformity with generally accepted accounting principles. Tulsa Public Schools also desires the auditor to express an opinion on the fair presentation of its combining and individual fund financial statements and schedules in conformity with generally accepted accounting principles. The auditor is not required to audit the supporting schedules contained in the comprehensive annual financial report. However, the auditor is to provide an “in-relation-to” opinion on the supporting schedules based on the auditing procedures applied during the audit of the basic financial statements and the combining and individual fund financial statements and schedules. The District publishes the annual financial statements in the form of a ACFR (Annual Comprehensive Financial Report). The ACFR is composed of Introductory, Financial, Statistical and Compliance sections. The auditor is not required to audit the Introductory or the Statistical sections of the report. The auditor shall also be responsible for performing certain limited procedures involving required supplementary information required by the Governmental Accounting Standards Board (GASB) as mandated by Generally Accepted Auditing Standards (GAAS).
