FAC Explorer

Corrective Action Plans

Browse how organizations respond to audit findings

Total CAPs
51,573
In database
Filtered Results
6,238
Matching current filters
Showing Page
236 of 250
25 per page

Filters

Clear
Active filters: Material Weakness
Finding 9840 (2022-027)
Material Weakness 2022
State of Illinois
IL
Internal Control / Segregation of Duties Eligibility Matching / Level of Effort / Earmarking § 200.303
The third-party service provider has provided SOC1 reports that appear to have resolved the internal controls. The service provider will continue to provide SOC 1 reports through Fiscal Year 2024. The IDES will review to ensure that appropriate controls remain in place.
The third-party service provider has provided SOC1 reports that appear to have resolved the internal controls. The service provider will continue to provide SOC 1 reports through Fiscal Year 2024. The IDES will review to ensure that appropriate controls remain in place.
View Audit 13503
Finding 9828 (2022-025)
Material Weakness 2022
State of Illinois
IL
Questioned Costs Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties § 200.303
The IDES UI Program will update its policies and procedures, implement the process to prohibit relief to employers who fail to provide timely and adequate responses to information requests, provide notification of this process to Illinois employers, and conduct training on this issue for staff durin...
The IDES UI Program will update its policies and procedures, implement the process to prohibit relief to employers who fail to provide timely and adequate responses to information requests, provide notification of this process to Illinois employers, and conduct training on this issue for staff during Fiscal Year 2024.
View Audit 13503 Questioned Costs: $1
Finding 9826 (2022-023)
Material Weakness 2022
State of Illinois
IL
Subrecipient Monitoring Allowable Costs / Cost Principles Material Weakness § 200.303
The Victims of Crime Act (VOCA) performance reports have been updated to include the VOCA administration funds for the Federal fiscal year to be used by ICJIA. A policy and procedure guide for the update of the OVC PMT system to include the administration funds will be developed and submitted to the...
The Victims of Crime Act (VOCA) performance reports have been updated to include the VOCA administration funds for the Federal fiscal year to be used by ICJIA. A policy and procedure guide for the update of the OVC PMT system to include the administration funds will be developed and submitted to the DOJ OVC by January 1, 2024. A step has been included in the timeline for the development and the submission of the VOCA annual report to include the review and verification that VOCA administration funds have been included in the report.
View Audit 13503
Finding 9823 (2022-021)
Material Weakness 2022
State of Illinois
IL
Questioned Costs Subrecipient Monitoring Material Weakness § 200.303 § 200.332
The IDPH’s fiscal staff were notified in November 2021 to add the ALN to the warrant description for each subrecipient disbursement made.
The IDPH’s fiscal staff were notified in November 2021 to add the ALN to the warrant description for each subrecipient disbursement made.
View Audit 13503 Questioned Costs: $1
Finding 9814 (2022-018)
Material Weakness 2022
State of Illinois
IL
Questioned Costs Matching / Level of Effort / Earmarking Special Tests & Provisions § 200.303
The DHFS continues to work on the implementation of the new IMPACT system, which has the functionality built-in to take the quarterly files from RISSNET and upload them into the new MMIS. However, a recent analysis of the IMPACT project is showing a shift in implementation date into future years. T...
The DHFS continues to work on the implementation of the new IMPACT system, which has the functionality built-in to take the quarterly files from RISSNET and upload them into the new MMIS. However, a recent analysis of the IMPACT project is showing a shift in implementation date into future years. To mitigate the shift in the timeline and the need for a corrective plan update, the DHFS will instead modify the existing legacy MMIS system to intake the NCCI and MUE files and modify the claims editing process to incorporate the NCCI and MUE rules. This will then be maintained on a quarterly basis in alignment with the publications on RISSNET.
View Audit 13503 Questioned Costs: $1
Finding 9784 (2022-013)
Material Weakness 2022
State of Illinois
IL
Questioned Costs Special Tests & Provisions Material Weakness § 200.303
e DHFS has a robust encounter utilization management (EUM) process that is managed by our consulting actuary, Milliman. The Department has also contracted with its external quality review organization (EQRO) to audit the MCOs encounter data. The EQRO completed and submitted the draft EDV report to t...
e DHFS has a robust encounter utilization management (EUM) process that is managed by our consulting actuary, Milliman. The Department has also contracted with its external quality review organization (EQRO) to audit the MCOs encounter data. The EQRO completed and submitted the draft EDV report to the Department on June 15, 2023. The report is currently pending review and approval by the DHFS. The DHFS will proceed with posting the final report as required once it has been reviewed and approved by all internal reviewing entities. The DHFS is working toward having the final, approved report posted on the Program web page no later than August 31, 2023.
View Audit 13503 Questioned Costs: $1
Finding 9782 (2022-012)
Material Weakness 2022
State of Illinois
IL
Questioned Costs Subrecipient Monitoring Material Weakness § 200.303 § 200.332
IDHS - Division of Family and Community Services (FCS) The IDHS-FCS’ Bureau of Contract Support and Payment administration staff has reviewed the exceptions and worked to create a process to ensure the proper notification of the ALN at time of disbursement. A plan of action was created whereby in ea...
IDHS - Division of Family and Community Services (FCS) The IDHS-FCS’ Bureau of Contract Support and Payment administration staff has reviewed the exceptions and worked to create a process to ensure the proper notification of the ALN at time of disbursement. A plan of action was created whereby in each fiscal year the IDHS’ Bureau of Program Support and Fiscal Management staff will communicate the appropriate ALN to be utilized. IDHS - Division of Substance Use, Prevention, and Recovery (SUPR) The IDHS-SUPR staff will ensure that all monthly expenditure vouchers have the ALNs listed and will work with IDHS’ fiscal staff to ensure that the ALNs are listed in the notes field for all vouchers processed for payments. Finally, the IDHS-SUPR staff will ensure that the ALNs are listed on all grants and contracts.
View Audit 13503 Questioned Costs: $1
Finding 9760 (2022-009)
Material Weakness 2022
State of Illinois
IL
Questioned Costs Eligibility Matching / Level of Effort / Earmarking § 200.303
For future consideration of funding, the IDHS will ensure that, in addition to meeting health and safety requirements, the providers will also complete certification and attestation that verifies that they meet the requirements and eligibility of the program.
For future consideration of funding, the IDHS will ensure that, in addition to meeting health and safety requirements, the providers will also complete certification and attestation that verifies that they meet the requirements and eligibility of the program.
View Audit 13503 Questioned Costs: $1
Finding 9740 (2022-003)
Material Weakness 2022
State of Illinois
IL
Subrecipient Monitoring Cash Management Material Weakness § 200.303 § 200.305
A vendor was utilized in Fiscal Year 2023 to assist the State with these tasks. For Fiscal Year 2024, IDOR’s role was transitioned from IDOR to the Illinois Department of Human Services.
A vendor was utilized in Fiscal Year 2023 to assist the State with these tasks. For Fiscal Year 2024, IDOR’s role was transitioned from IDOR to the Illinois Department of Human Services.
View Audit 13503
Finding 9443 (2022-007)
Material Weakness 2022
League for Innovation in the Community College
AZ
Reporting Material Weakness
U.S. Department of Health and Human Services Passed through Health Research & Educational Trust (HRET), Federal Financial Assistance Listing #93.318, 87728, Protecting and Improving Health Globally: Building and Strengthening Public Health Impact, Systems, Capacity, and Security Finding Summary: The...
U.S. Department of Health and Human Services Passed through Health Research & Educational Trust (HRET), Federal Financial Assistance Listing #93.318, 87728, Protecting and Improving Health Globally: Building and Strengthening Public Health Impact, Systems, Capacity, and Security Finding Summary: The Organization did not have an internal control system designed to provide for the preparation of the schedule of expenditures of federal awards and accompanying notes. Management’s Response and Corrective Action Plan: We are working to implement additional controls to ensure that the schedule of expenditures of federal awards is completed correctly and reviewed appropriately. Responsible Individuals: Rufus Glasper, President and CEO and Cynthia Wilson, Vice President for Learning and Chief Impact Officer Anticipated Completion Date: January 2024
View Audit 12931
Finding 9442 (2022-006)
Material Weakness 2022
League for Innovation in the Community College
AZ
Material Weakness Reporting Internal Control / Segregation of Duties
U.S. Department of Health and Human Services Passed through Health Research & Educational Trust (HRET), Federal Financial Assistance Listing #93.318, 87728, Protecting and Improving Health Globally: Building and Strengthening Public Health Impact, Systems, Capacity, and Security Finding Summary: The...
U.S. Department of Health and Human Services Passed through Health Research & Educational Trust (HRET), Federal Financial Assistance Listing #93.318, 87728, Protecting and Improving Health Globally: Building and Strengthening Public Health Impact, Systems, Capacity, and Security Finding Summary: The Organization’s existing controls over federal award reporting did not support the maintenance of documentation supporting proper review and approval of reports prior to submission. Management’s Response and Corrective Action Plan: There is an opportunity to ensure that controls are in place relating to the report preparation process and review. We are working to implement additional controls to ensure reports are prepared in compliance with grantor reporting and review requirements. Responsible Individuals: Rufus Glasper, President and CEO and Cynthia Wilson, Vice President for Learning and Chief Impact Officer Anticipated Completion Date: January 2024
View Audit 12931
Finding 9440 (2022-004)
Material Weakness 2022
League for Innovation in the Community College
AZ
Allowable Costs / Cost Principles Material Weakness
U.S. Department of Health and Human Services Passed through Health Research & Educational Trust (HRET), Federal Financial Assistance Listing #93.318, 87728, Protecting and Improving Health Globally: Building and Strengthening Public Health Impact, Systems, Capacity, and Security Finding Summary: The...
U.S. Department of Health and Human Services Passed through Health Research & Educational Trust (HRET), Federal Financial Assistance Listing #93.318, 87728, Protecting and Improving Health Globally: Building and Strengthening Public Health Impact, Systems, Capacity, and Security Finding Summary: The Organization’s internal controls were not designed to properly ensure a review over program expenditures occurred. Management’s Response and Corrective Action Plan: We are working to implement additional controls relating to the review of allowable activities and allowable costs in order to ensure all policies are properly complied with and documented. Responsible Individuals: Rufus Glasper, President and CEO, and Cynthia Wilson, Vice President for Learning and Chief Impact Officer Anticipated Completion Date: January 2024
View Audit 12931
Finding 8836 (2022-004)
Material Weakness 2022
American Samoa Alliance Against Domestic and Sexual Violence INC
AS
Reporting Procurement, Suspension & Debarment Allowable Costs / Cost Principles
Recommendation: We recommend the Alliance develop a additional policies and procedures that ensure all reporting requirements are met on an annual basis. If the Alliance lacks sufficient internal resources, they should consult with an external resource to draft the procurement policy. Views of Res...
Recommendation: We recommend the Alliance develop a additional policies and procedures that ensure all reporting requirements are met on an annual basis. If the Alliance lacks sufficient internal resources, they should consult with an external resource to draft the procurement policy. Views of Responsible Officials: Management partially agrees. There have been instances when a report will appear for the first time on the PMS website for a period that has already closed, and it shows as delinquent. PMS is checked at least monthly for reports due soon. All of the finance team will add reminders to their calendar, so this is not repeated
View Audit 12099
Finding 8835 (2022-003)
Material Weakness 2022
American Samoa Alliance Against Domestic and Sexual Violence INC
AS
Procurement, Suspension & Debarment Allowable Costs / Cost Principles Material Weakness
Recommendation: We recommend the Alliance develop a procurement policy that aligns with the requirements of Uniform Guidance. If the Alliance lacks sufficient internal resources, they should consult with an external resource to draft the procurement policy. Views of Responsible Officials: Managem...
Recommendation: We recommend the Alliance develop a procurement policy that aligns with the requirements of Uniform Guidance. If the Alliance lacks sufficient internal resources, they should consult with an external resource to draft the procurement policy. Views of Responsible Officials: Management agrees. A procurement policy will be developed and added to the finance polices and procedures before end of 2023.
View Audit 12099
Finding 8834 (2022-002)
Material Weakness 2022
American Samoa Alliance Against Domestic and Sexual Violence INC
AS
Allowable Costs / Cost Principles Material Weakness
Recommendation: We recommend the Alliance maintain support for the cost savings analysis related to extended travel. Views of Responsible Officials: Management agrees. Processes will be put in place to document cost savings in writing when extended travel is necessary. This cost analysis will be ...
Recommendation: We recommend the Alliance maintain support for the cost savings analysis related to extended travel. Views of Responsible Officials: Management agrees. Processes will be put in place to document cost savings in writing when extended travel is necessary. This cost analysis will be filed along with board approval, so it is easily accessible upon request.
View Audit 12099
Finding 8718 (2022-005)
Material Weakness 2022
Cardiovascular Center Corporation of Puerto Rico and the Caribbean
PR
Questioned Costs Eligibility Subrecipient Monitoring
Finding No. 2022-005 - Activities Allowed or Unallowed, Eligible Uses - Premium Pay Condition During our examination, we noted three (3) instances, which based on the regulation previously indicated, the premium pay was paid to employees whose wages are higher than 150 percent of the Puerto Rico ...
Finding No. 2022-005 - Activities Allowed or Unallowed, Eligible Uses - Premium Pay Condition During our examination, we noted three (3) instances, which based on the regulation previously indicated, the premium pay was paid to employees whose wages are higher than 150 percent of the Puerto Rico median annual wage of $30,750. Corporation response The Corporation agrees with the finding. Corrective Action Plan Upon receipt of the audit findings, we initiated an immediate review of our premium pay practices and expendih1re related to the American Rescue Plan Act, Public 117-2 ("ARP") We are implementing quick corrective actions to address the identified deficiencies and ensure compliance with allowable uses for future activities as outlined in the ARP Act. The Corporation will establish a communication with the Health Department of Puerto Rico to obtain instructions for the correction of this non-compliance event and questioned cost appointed by external auditors. Names of the contact persons responsible for corrective action plan Jesus A. Rodriguez Aviles - Financial Planning and Analysis Associate Director Cecilia Robles Kakiuchi - Financial Planning and Analysis Director Anticipated Completion Date Fiscal Year 2024
View Audit 11856 Questioned Costs: $1
Finding 8714 (2022-008)
Material Weakness 2022
Cardiovascular Center Corporation of Puerto Rico and the Caribbean
PR
Reporting Procurement, Suspension & Debarment Subrecipient Monitoring
Finding No. 2022-008 - Provider Relief Fund Reporting Time Period Condition The Corporation did not report the entire amount of Provider Relief Funds expensed during Period 1 by the Reporting Time Period. Corporation response The Corporation agrees with the finding. Corrective Action Plan Upon...
Finding No. 2022-008 - Provider Relief Fund Reporting Time Period Condition The Corporation did not report the entire amount of Provider Relief Funds expensed during Period 1 by the Reporting Time Period. Corporation response The Corporation agrees with the finding. Corrective Action Plan Upon receipt of the audit findings, we initiated an immediate review of our reporting procedures. We have identified specific areas that require attention and are implementing immediate corrective actions to address the identified deficiencies. ■ Policies and Procedures Review - Simultaneously, we are reviewing our existing policies and procedures related to federal awards reporting. This includes a reassessment of reporting timelines, data validation processes, and the overall framework for ensuring accuracy and completeness in our reports. ■ Staff Training and Development - Recognizing the critical role of our personnel in the reporting process, we are providing additional training to the individuals involved. This training will emphasize the importance of adherence to reporting guidelines, accurate data entry, and the significance of meeting established deadlines. • Communication Protocol Enhancement - We recognize the importance of effective communication regarding reporting processes. To address this, we are enhancing our communication protocols to ensure that all relevant stakeholders are informed of reporting requirements, timelines, and any changes to procedures. • Monitoring - The Corporation designated the Financial Planning and Analysis Associate Director in charge of monitoring the compliance with the federal awards reporting requirements. • Reporting Update - Since the Health Resources and Service Administration reporting portal is already closed, the Corporation will initiate a communication process with the Health Resources and Service Administration to inform about the funds not reported due to timing difference. Names of the CQJJJact persons responsible for corrective action plan Jesus A Rodriguez Aviles - Financial Planning and Analysis Associate Director Cecilia Robles Kakiuchi - Financial Planning and Analysis Director Anticipated Completion Date Fiscal year 2024
View Audit 11856
Finding 8712 (2022-004)
Material Weakness 2022
Cardiovascular Center Corporation of Puerto Rico and the Caribbean
PR
Subrecipient Monitoring Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties § 200.303
Finding No. 2022-004 - Monthly Reporting Condition During our audit procedures regarding the compliance requirement related to reporting, we noted that, during the fiscal year ended June 30, 2022: • The Corporation was not able to provide audit evidence for the submission of fifteen (15) monthl...
Finding No. 2022-004 - Monthly Reporting Condition During our audit procedures regarding the compliance requirement related to reporting, we noted that, during the fiscal year ended June 30, 2022: • The Corporation was not able to provide audit evidence for the submission of fifteen (15) monthly reports, three (3) for the Coronavirus Relief Fund and twelve (12) for the Coronavirus State and Local Fiscal Recovery Fund. • Five (5) monthly reports were submitted later than its due date as follows: Corporation response The Corporation agrees with the finding. Corrective Action Plan Upon receipt of the audit findings, we initiated an immediate review of our monthly reporting procedures. We have identified specific areas that require attention and are implementing immediate corrective actions to address the identified deficiencies. ■ Policies and Procedures Review - Simultaneously, we are reviewing our existing policies and procedures related to monthly reporting. This includes a reassessing reporting timeline, data validation processes, and the overall framework for ensuring accuracy and completeness in our monthly reports. ■ Staff Training and Development - Recognizing the critical role of our personnel in the reporting process, we are providing additional training to the individuals involved. This training will emphasize the importance of adherence to reporting guidelines, accurate data entry, and the significance of meeting established deadlines. Communication Protocol Enhancement - We recognize the importance of effective communication regarding reporting processes. To address this, we are enhancing us communication protocols to ensure that all relevant stakeholders are informed of reporting requirements, timelines, and any changes to procedures. • Finance Team - The Corporation has changed its management staff structure in the finance and budget department, with the mission of improving the monitoring process and compliance with federal and local regulations. A new Finance and Budget Director and the Associate Director of Finance and Budget have been appointed. Names of the contact persons responsible for corrective action plan Jesus A. Rodriguez Aviles- Financial Planning and Analysis Associate Director Cecilia Robles Kakiuchi - Financial Planning and Analysis Director Anticipated Completion Date Fiscal Year 2024
View Audit 11856
Finding 8705 (2022-003)
Material Weakness 2022
Dakota County
MN
Eligibility Material Weakness Matching / Level of Effort / Earmarking § 200.303
2022-003 – TEMPORARY ASSISTANCE FOR NEEDY FAMILIES – ELIGIBILITY U.S. Department of Health and Human Services Temporary Assistance for Needy Families Assistance Listing Number: 93.558 Passed Through Minnesota Department of Human Services Pass Through Number: H55214077 Award Period: 2022 Recommen...
2022-003 – TEMPORARY ASSISTANCE FOR NEEDY FAMILIES – ELIGIBILITY U.S. Department of Health and Human Services Temporary Assistance for Needy Families Assistance Listing Number: 93.558 Passed Through Minnesota Department of Human Services Pass Through Number: H55214077 Award Period: 2022 Recommendation: We recommend the County implement process and procedures to provide reasonable assurance that all necessary documentation to support eligibility determination exists and is properly input or updated in MAXIS and issues are followed up in a timely manner. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action planned in response to finding: The County will ensure processes and procedures are in place to properly document and support eligibility determination, properly input and update MAXIS, and properly resolve issues promptly. Periodic review of case files will be included in the annual internal audit work plan. Name of the contact person responsible for corrective action: Tiffinie Miller-Sammons, Deputy Director Planned completion date for corrective action plan: December 31, 2023
View Audit 11849
Finding 8702 (2022-005)
Material Weakness 2022
Dakota County
MN
Allowable Costs / Cost Principles Material Weakness Reporting § 200.303
2022-005 – EMERGENCY RENTAL ASSISTANCE – REPORTING AND SPECIAL PROVISIONS U.S. Department of Treasury Emergency Rental Assistance Assistance Listing Number: 21.023 Direct Payment Award Period: 2022 Recommendation: We recommend the County implement internal controls to ensure that all reports for f...
2022-005 – EMERGENCY RENTAL ASSISTANCE – REPORTING AND SPECIAL PROVISIONS U.S. Department of Treasury Emergency Rental Assistance Assistance Listing Number: 21.023 Direct Payment Award Period: 2022 Recommendation: We recommend the County implement internal controls to ensure that all reports for federal programs are compiled, properly reviewed, and that review be reasonably documented prior to submission of the reports or data. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action planned in response to finding: We will continue to work with SLFRF program managers to understand and adhere to federal purchasing policies. Name of the contact person responsible for corrective action: Peter Skwira, Finance Director Planned completion date for corrective action plan: December 31, 2023
View Audit 11849
Finding 8699 (2022-006)
Material Weakness 2022
Dakota County
MN
Allowable Costs / Cost Principles Material Weakness Internal Control / Segregation of Duties § 200.303
2022-006 – SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM CLUSTER & TEMPORARY ASSISTANCE FOR NEEDY FAMILIES – ACTIVITIES ALLOWED AND UNALLOWED U.S. Department of Agriculture & U.S. Department of Health and Human Services Supplemental Nutrition Assistance Program Cluster & Temporary Assistance for Needy ...
2022-006 – SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM CLUSTER & TEMPORARY ASSISTANCE FOR NEEDY FAMILIES – ACTIVITIES ALLOWED AND UNALLOWED U.S. Department of Agriculture & U.S. Department of Health and Human Services Supplemental Nutrition Assistance Program Cluster & Temporary Assistance for Needy Families Assistance Listing Number: 10.561 & 93.558 Passed Through Minnesota Department of Human Services Pass Through Number: H55210010 & H55214077 Award Period: 2022 Recommendation: We recommend that the County review its procedures and control to ensure all RMS listings sent to the State properly exclude those necessary individuals no longer working in the programs. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action planned in response to finding: Dakota County has implemented a new ERP application. In that process, the county needed to reexamine the way in which it codes staff into units. EEA is working with the state and other county departments to ensure correct documentation is updated in the new ERP system and procedures are in place to keep them accurate. Name of the contact person responsible for corrective action: Daren Nyquist, Administration Manager Planned completion date for corrective action plan: December 31, 2023
View Audit 11849
Finding 8698 (2022-004)
Material Weakness 2022
Dakota County
MN
Eligibility Material Weakness Reporting § 200.303
2022-004 – SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM CLUSTER – SPECIAL PROVISIONS U.S. Department of Agriculture Supplemental Nutrition Assistance Program Cluster Assistance Listing Number: 10.561 Passed Through Minnesota Department of Human Services Pass Through Number: H55210010 Award Period: 20...
2022-004 – SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM CLUSTER – SPECIAL PROVISIONS U.S. Department of Agriculture Supplemental Nutrition Assistance Program Cluster Assistance Listing Number: 10.561 Passed Through Minnesota Department of Human Services Pass Through Number: H55210010 Award Period: 2022 Recommendation: We recommend the County implement process and procedures to provide reasonable assurance that all necessary documentation to support eligibility determination exists and is properly input or updated in MAXIS and issues are followed up in a timely manner. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action planned in response to finding: The County will ensure processes and procedures are in place to properly document and support eligibility determination, properly input and update MAXIS, and properly resolve issues promptly. Periodic review of case files will be included in the annual internal audit work plan. Name of the contact person responsible for corrective action: Daren Nyquist, Administration Manager Planned completion date for corrective action plan: December 31, 2023
View Audit 11849
Ferry County
WA
Questioned Costs Allowable Costs / Cost Principles Eligibility
The County will establish procedures to verify eligibility of program costs by requiring proof of eligibility be attached to grant fund expense vouchers when submitted to the auditor’s office for processing.
The County will establish procedures to verify eligibility of program costs by requiring proof of eligibility be attached to grant fund expense vouchers when submitted to the auditor’s office for processing.
View Audit 11191 Questioned Costs: $1
Finding 8245 (2022-002)
Material Weakness 2022
Hip Housing Development Corporation
CA
Material Weakness Reporting Internal Control / Segregation of Duties
A big part of our systems conversion was the creating of a uniform chart of accounts throughout our portfolio. This was necessary to optimize our new system, to simplify financial analysis and reporting, and to streamline account reconciliations. However, changing the organization’s chart of account...
A big part of our systems conversion was the creating of a uniform chart of accounts throughout our portfolio. This was necessary to optimize our new system, to simplify financial analysis and reporting, and to streamline account reconciliations. However, changing the organization’s chart of accounts involved the consolidating, splitting-up, adding and removing of some general ledger line items. This created a number of issues when it comes to validating the beginning balances data in Yardi with the audited ending balances in QuickBooks. Furthermore, in the first few months after the system conversion, most of the finance team staff members were getting used to a new system and a new chart of accounts. This resulted in several data entry errors and inconsistencies. As a result of these some balance sheet account balances needed adjustment. HIP Housing’s team has provided the most of the adjusting entries necessary to rectify the account balances. We have also provided our team with ample training of the new system and have implemented several process improvements to streamline data entry. We are confident that a combination of these measures we have taken have already come to fruition and future audits will have far less account balances that need adjustments. Ghion Dessie – VP of Finance
View Audit 10874
Finding 8244 (2022-001)
Material Weakness 2022
Hip Housing Development Corporation
CA
Material Weakness Reporting Internal Control / Segregation of Duties
HIP Housing had a system conversion from QuickBooks to Yardi in July 2021. Our go live date was July 1, 2021 which makes fiscal year 21-22 our first year of audit in our new system for HHAV, HIP Housing, and HHDC. Due to difficulties and complications related to our conversion, mapping of conversion...
HIP Housing had a system conversion from QuickBooks to Yardi in July 2021. Our go live date was July 1, 2021 which makes fiscal year 21-22 our first year of audit in our new system for HHAV, HIP Housing, and HHDC. Due to difficulties and complications related to our conversion, mapping of conversion data, validating beginning balances, and closing out the year took us much longer that we expected. That significantly delayed our year end closing process. Such a delay is common when organizations are going through system conversions. Now that we will have audited beginning balances in Yardi, such delays should be reduced. We have already started taking measures to ensure that financials are completed and reconciled in a reasonable period for future audits. Some of these measures include monthly A/R and A/P tie outs of the A/R and A/P sub-ledgers to the general ledger and also a monthly reconciliation of intercompany reconciliations. We have also started using import files to record most of the intercompany transactions which will simplify/improve our intercompany reconciliation. Ghion Dessie – VP of Finance
View Audit 10874
« 1 234 235 237 238 250 »