Responsibility: The Upper Management and the Accounting Manager is responsible for providing the training and assigning certain accounting classes that can be done online.
Responsibility: The Upper Management and the Accounting Manager is responsible for providing the training and assigning certain accounting classes that can be done online.
Action: Create a control to that will cause early and frequent monitoring of Surplus Cash. Management should emphasize accountants to compute and report surplus cash to upper management on a monthly basis. Management should review the surplus cash calculations on a monthly basis.
Action: Create a control to that will cause early and frequent monitoring of Surplus Cash. Management should emphasize accountants to compute and report surplus cash to upper management on a monthly basis. Management should review the surplus cash calculations on a monthly basis.
Responsibility: The Accounting Manager is responsible for providing the training and assigning certain accounting classes that can be done online regarding the calculation of Surplus Cash and the ultimate requirement to deposit Surplus cash to Residual Receipts.
Responsibility: The Accounting Manager is responsible for providing the training and assigning certain accounting classes that can be done online regarding the calculation of Surplus Cash and the ultimate requirement to deposit Surplus cash to Residual Receipts.
Management has already instituted some actions to address the findings. The owner of the management company has now assumed the responsibility to emphasize to the accounting department to monitor and report surplus cash frequently. Also, this incident appears to be a first time occurrence for this e...
Management has already instituted some actions to address the findings. The owner of the management company has now assumed the responsibility to emphasize to the accounting department to monitor and report surplus cash frequently. Also, this incident appears to be a first time occurrence for this entity. Further the upon subsequent events review it was noted that the residual receipt deposit was made on 11/18/2025.
Action: Management needs to monitor and review the processing of monthly financial statements to detect any errors in recording transactions. Further management needs to monitor and review on a monthly basis the processing of bank reconciliations. To Provide Mandatory training to accounting personne...
Action: Management needs to monitor and review the processing of monthly financial statements to detect any errors in recording transactions. Further management needs to monitor and review on a monthly basis the processing of bank reconciliations. To Provide Mandatory training to accounting personnel on certain accounting principles regarding HUD Multifamily Housing. This includes taking accounting continuing education classes in accounting for HUD Projects. Create an Internal Auditing function within the Management company.