The processes for compiling and presenting financial and federal program reports contain many areas of risk, such as reorganization or personnel changes, and new or revised guidance and rules.
To help governments deal with the many possible challenges, our Office has issued two new risk assessment worksheets, one relating to financial reporting and the other to federal programs. Both are available in the Audit Resources section of our website: portal.sao.wa.gov/PerformanceCenter/
These resources help identify common risks, asking you to consider internal and external pressures, previously raised issues that might have gone unresolved and other potential concerns. For risks that a government deems relevant during a particular reporting cycle, these worksheets also provide a structure for planning and tracking the response.
Local governments can use the worksheets to supplement current year-end financial reporting procedures and the current federal grant agreement process, respectively.