Loading...
2017 Management LetterVILLAGE OF OAK BROOK Oak Brook, Illinois COMMUNICATION TO THE VILLAGE BOARD AND MANAGEMENT As of and for the Year Ended December 31, 2017 Page 1 To the Honorable President and the Board of Trustees Village of Oak Brook Oak Brook, Illinois In planning and performing our audit of the financial statements of the Village of Oak Brook (the “Village”) as of and for the year ended December 31, 2017, in accordance with auditing standards generally accepted in the United States of America, we considered its internal control over financial reporting (internal control) as a basis for designing our auditing procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of its internal control. Accordingly, we do not express an opinion on the effectiveness of its internal control. Our consideration of internal control was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and, therefore, material weaknesses or significant deficiencies may exist that were not identified. However, as discussed below, we identified certain deficiencies that we consider to be significant deficiencies. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency or combination of deficiencies in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. We did not identify any deficiencies in internal control that we consider to be material weaknesses. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. W e consider the following deficiencies in the Village’s internal control to be significant deficiencies, as discussed further on the following pages: >General Journal Entry Controls >General Information Technology Controls This communication is intended solely for the information and use of management, the Board of Trustees, and others within the organization and is not intended to be, and should not be, used by anyone other than these specified parties. Oak Brook, Illinois May 2, 2018