Answer: The previous management agent did not supply enough audit evidence for key financial accounts.
Trend: This issue indicates a recurring problem with documentation and evidence provision in financial audits.
List: Follow up by ensuring the new management agent provides complete and appropriate evidence for all bank accounts and receipts.
Finding Text
The prior management agent failed to provide sufficient appropriate audit evidence for testing balances on owner bank accounts, operating reserve bank account, new bank account and receipt testing for the year end.