Finding 1054642 (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 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 disclosures.

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

  • 478200 2023-001
    Material Weakness
  • 478201 2023-002
    Material Weakness
  • 478202 2023-003
    Significant Deficiency
  • 1054643 2023-002
    Material Weakness
  • 1054644 2023-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $751,134