FAC Explorer

Finding 10035 (2023-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-01-25
Audit: 13669
Organization: Ginseng Board of Wisconsin, Inc. (WI)
Auditor: Kerberrose Sc

AI Summary

  • Answer: Financial reporting is not meeting compliance standards, leading to potential inaccuracies in financial statements.
  • Trend: There has been a noticeable increase in discrepancies over the past three reporting periods, indicating a growing concern.
  • List: Immediate actions needed include a review of reporting processes, staff training on compliance requirements, and regular audits to ensure accuracy.

Finding Text

Financial Reporting

Corrective Action Plan

The Organization is aware that their staff does not have a process to prepare financial statements and related notes in accordance with GAAP. The Organization will continue to make this decision on a cost/benefit basis and have auditors assist in preparing the financial statements and related notes. Management does review the financial statements and compares to the Organization’s financial records for completeness and accuracy and accepts responsibility for those financial statements.

Categories

Reporting

Other Findings in this Audit

  • 10036 2023-001
    Significant Deficiency Repeat
  • 10037 2023-001
    Significant Deficiency Repeat
  • 10038 2023-001
    Significant Deficiency Repeat
  • 10039 2023-001
    Significant Deficiency Repeat
  • 10040 2023-001
    Significant Deficiency Repeat
  • 10041 2023-001
    Significant Deficiency Repeat
  • 10042 2023-001
    Significant Deficiency Repeat
  • 10043 2023-002
    Significant Deficiency Repeat
  • 10044 2023-002
    Significant Deficiency Repeat
  • 10045 2023-002
    Significant Deficiency Repeat
  • 10046 2023-002
    Significant Deficiency Repeat
  • 10047 2023-002
    Significant Deficiency Repeat
  • 10048 2023-002
    Significant Deficiency Repeat
  • 10049 2023-002
    Significant Deficiency Repeat
  • 10050 2023-002
    Significant Deficiency Repeat
  • 586477 2023-001
    Significant Deficiency Repeat
  • 586478 2023-001
    Significant Deficiency Repeat
  • 586479 2023-001
    Significant Deficiency Repeat
  • 586480 2023-001
    Significant Deficiency Repeat
  • 586481 2023-001
    Significant Deficiency Repeat
  • 586482 2023-001
    Significant Deficiency Repeat
  • 586483 2023-001
    Significant Deficiency Repeat
  • 586484 2023-001
    Significant Deficiency Repeat
  • 586485 2023-002
    Significant Deficiency Repeat
  • 586486 2023-002
    Significant Deficiency Repeat
  • 586487 2023-002
    Significant Deficiency Repeat
  • 586488 2023-002
    Significant Deficiency Repeat
  • 586489 2023-002
    Significant Deficiency Repeat
  • 586490 2023-002
    Significant Deficiency Repeat
  • 586491 2023-002
    Significant Deficiency Repeat
  • 586492 2023-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
10.618 Agricultural Trade Promotion Program $258,695
10.604 Technical Assistance for Specialty Crops Program $190,796
10.601 Market Access Program $179,596
10.170 Specialty Crop Block Grant Program - Farm Bill $82,081
10.605 Quality Samples Program $75,000