Why This Audit? In accordance with 29. Del. C. §2906 and §6058, the Auditor of Accounts (AOA) is releasing a financial statement audit of the State of Delaware 403(b) Plan for calendar year 2016.This report has a disclaimed opinion. 1Why is the audit opinion disclaimed? The Department of Labor permits the exclusion of vendors which were previously approved but discontinued prior to 2009. Since the financial statements permissibly exclude significant dollars for more than one hundred discontinued vendors, the auditors cannot opine that the financial statements are complete and accurate in all material respects. Hence, a disclaimed opinion is what the audit standards require for 403(b) plans with significant excluded contracts. Disclaimed audit opinions are standard in these cases.
DE
United States
