In the ACFR there is an abundance of information that is given to the
reader of the report. a There is also an independent auditor report
included. After the introductory section, this is the first thing that the
reader can read and look through in the financial section. This is very
helpful to know upfront that an independent auditor performed an
annual audit on the county, and to see their findings at the beginning
and then go through their audit of the financials. The ACFR also gives
you a comparison of the budget for multiple areas of the county. You
can see what they anticipated for the budget and what the actual
budget that got spent, thus being able to see how far over/under
budget the county is. A corporate report is more geared towards their
shareholders/investors, as well as attracting potential investors to the
company, whereas one for a local government is showing the
breakdown of the spending of that government annually for it's
residents and higher levels of government.
Reference:
https://www.co.fresno.ca.us/home/showpublisheddocument/4154
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