Fairhope, Alabama thefairhopetimes.blogspot.com CPA Lee Parks addressing council. NO DEFICIENCIES DETECTED LAST YEAR A team from the Montgomery-based Warren Averett accounting firm reviewed the city's Fiscal Year 2025 finances and the accompanying Single Audit of federal funds -- and issued an "unmodified" opinion. The complete audit is available from the city's website, Treasury Department section. In financial jargon, an unmodified opinion (frequently called a "clean" opinion) is an auditor's formal declaration that a company's financial statements are presented fairly and accurately, and comply with standard accounting frameworks like GAAP or IFRS. It indicates no material misstatements were found. While it is the best possible result an audit can yield, an unmodified opinion does not mean the auditee is perfectly managed or immune to financial risk. A new fiscal year begins on October 1st. 'Single Audit' results.
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