AUDIT FINDINGS
Currently, IIW is concluding an outside objective review of grants/contracts, since August 2022, to
confirm the audit findings for 2022 and combined with the 2023 regular audit IIW should be able to
determine the exact amounts, any payback through adjustments made by the state for sub...
AUDIT FINDINGS
Currently, IIW is concluding an outside objective review of grants/contracts, since August 2022, to
confirm the audit findings for 2022 and combined with the 2023 regular audit IIW should be able to
determine the exact amounts, any payback through adjustments made by the state for subsequent
payments after errors were made, and the nature of the over allocation of FTE’s.
The reason for the need to combine the 2022 with 2023 audits is that the state and federal fiscal year
beginning and ending overlap IIW’s fiscal year period.
IIW does not dispute findings from the 2022 & 2023 audits.
Corrective Actions:
• Participating in close financial monitoring with granting agencies
• IIW Audit Manual created and ratified by IIW Board
• Improved Segregation of Financial Roles
• Implemented new financial system to facilitate improvements in GAAP
• Implemented new chart of accounts to facilitate improved reporting, reconciliation, and billing
• Improved reconciliation for both bank and programs
• Improved financial controls for banking and investment management
• Began reimbursement of identified funds that are required to be paid back to granting agencies
Sincerely yours,
Paul F. Trebian, Ed.D., MBA/TM, MA, BS
President & CEO
International Institute of Wisconsin
ptrebian@iiwisconsin.org
414-403-9735 Cell
CST