Finding 1054639 (2023-001)

Material Weakness
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-07-11

AI Summary

  • Answer: Year-end financial statements are not compliant with U.S. accounting principles.
  • Trend: Missing year-end adjusting entries, cash flow statements, and full note disclosures indicate a pattern of incomplete reporting.
  • List: Ensure future statements include all necessary adjustments, a cash flow statement, and comprehensive notes for compliance.

Finding Text

The year-end financial statements prepared for the Organization’s board members and management to assess ongoing operating results are not prepared in accordance with accounting principles generally accepted in the United States of America, in that they do not include certain year-end adjusting entries, a statement of cash flows, and full note disclosures.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 478197 2023-001
    Material Weakness
  • 478198 2023-002
    Material Weakness
  • 478199 2023-003
    Significant Deficiency
  • 1054640 2023-002
    Material Weakness
  • 1054641 2023-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $1.51M