Finding 2022-002: Late Audit Reporting: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation, or their designee, by the due date of June 30, 2023.
Name of Contact Person: Charles Xie, Chief Executive Officer email: charles@intof...
Finding 2022-002: Late Audit Reporting: The Organization did not complete and submit its federal single audit of its federal award from National Science Foundation, or their designee, by the due date of June 30, 2023.
Name of Contact Person: Charles Xie, Chief Executive Officer email: charles@intofuture.org
Corrective Action Plan: The Organization underwent a single audit as required by Uniform Guidance for the year that ended September 30, 2022. The Organization designated an individual at the Organization to implement procedures and monitor the timely filing of the single audit. Part of the reason for the delay was that the Organization had never been subjected to a single audit before, and thus this was the first time they needed to produce supporting documentation. As the Organization was established in June 2020, it was only subject to a regular audit for the year ended September 30, 2021. At that time, the Organization had signed a three-year audit contract with Treeful Damaso Aniceto, Inc. However, when it came the time to audit the year ended September 30, 2022, the audit firm unexpectedly notified the Organization that they no longer performed single audits. As a result, the Organization needed to seek a new audit firm. But many firms that the Organization contacted were already overbooked. It was not until late 2023 that the Organization received quotes from several firms, of which the current auditor was chosen through a process of careful evaluation and comparison. From now on, the Organization will monitor these due dates in future single audits to ensure timely completion.
Anticipated Completion Date: Immediately