2024-002 – Material Weakness in Internal Control and Material Noncompliance- Data Collection Form Late Filing
Corrective Action Plan
TCCA will actively participate in the planning and assistance needed for the Organization’s independent accounting firm to ensure a smooth and timely audit of its fina...
2024-002 – Material Weakness in Internal Control and Material Noncompliance- Data Collection Form Late Filing
Corrective Action Plan
TCCA will actively participate in the planning and assistance needed for the Organization’s independent accounting firm to ensure a smooth and timely audit of its financial statements. In this regard, the Accounting Department will support the independent auditors in the following areas:
Planning: The Chief Financial Officer (CFO) is responsible for delegating assignments and responsibilities to the accounting staff in preparation for the audit. The CFO will review the list of information requested by the auditors and assign responsibility for each item to the appropriate TCCA staff members. Additionally, the CFO will schedule regular status meetings in the weeks leading up to the audit to monitor the progress of the staff in preparing for the audit. The CFO will arrange and coordinate all meetings, interviews, telephone discussions, and conference calls requested by the auditors with TCCA board members, audit or finance committee members, or employees of TCCA to facilitate the auditors’ work. Prior to any such meetings or discussions, the CFO will inform each participant from the Organization about the nature of the discussion or meeting and any preparations they should undertake. Furthermore, the CFO will emphasize to each TCCA participant in these meetings or discussions the importance of being open, honest, and straightforward with the auditors regarding any questions posed.
Involvement – Organization staff will undertake as much work as possible to assist the auditors, thereby helping to reduce the overall cost of the audit.
Interim Procedures – To ensure the timely completion of the annual audit, independent auditors may perform selected audit procedures prior to the Organization’s year-end. By conducting significant portions of the audit work at an interim date, the overall work required after year-end is reduced. The Organization’s staff will provide the requested schedules and documents to assist the auditors during any interim audit fieldwork.
Throughout the audit process, TCCA will make every effort to provide the schedules, documents, and information requested by the auditors in a timely manner.
Person(s) Responsible: Chief Financial Officer, Finance Officer, Assistant Finance Officer
Timing for Implementation: June 3, 2025
However, it was discovered that the CFO failed to respond to the audit requests in a timely manner, placing the organization at risk of losing grant funds. This loss would be detrimental to the children,
families, and communities served by this organization. Consequently, the CFO was terminated on June 25, 2025.