local government comprehensive annual financial report

For this discussion, refer to the city of Sacramento, California’s Comprehensive Annual Financial Report (linked in Resources) that you reviewed in this unit’s studies.

After reviewing the CAFR (http://www.cityofsacramento.org/Finance/Accounting…), explain how the audit opinion given to this city by its independent auditors differs from the audit opinion that might be rendered on the financial statements for a for-profit business.

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