The Atlantic County Utilities Authority’s Board of Commissioners accepted
the Annual Financial Statement Audit for 2013 at its May 15th
meeting. The Authority’s external
auditor, Holman, Frenia and Allison, P.C. of Toms River, reported to the Board
that an unqualified opinion was issued by the firm and that there were no
formal recommendations to report to management.
An unqualified audit opinion is the best opinion an organization can
receive from an audit.
audit is an independent review of the financial statements of the ACUA. Audit work performed by the independent audit
firm includes, among other things, checking the accuracy of records, verifying
compliance with accounting standards, and reviewing the soundness of financial
practices and policies, including the review of internal controls. Holman Frenia Allison did not uncover any
deficiencies or weaknesses during the course of the audit.
leadership of Rick Dovey, ACUA President, and Maria Mento, ACUA Executive Vice
President and Chief Finance Officer, this audit marks the twenty-fifth year of
an unqualified opinion and no recommendations to management.
“I want to commend the staff for this amazing
achievement and their continued diligence and hard work in protecting the
assets of the Authority,” said Marvin Embry, Chairman of ACUA’s Board of
Commissioners. “The board gladly accepted this glowing report at its monthly
This is the second year that ACUA has engaged Holman, Frenia and Allison, P.C.
for their audit. ACUA typically changes auditors every three years, a common
practice among public agencies.
ACUA’s audits, along with other financial documents, are
available for review online. For more information, contact ACUA at 609-272-6950
or visit www.acua.com.