Finding 1073973 (2023-001)

Significant Deficiency
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-09-20
Audit: 320273
Organization: Bethel Towers (LA)
Auditor: Wharton CPA LLC

AI Summary

  • Answer: Prior year audit entries were not posted by management.
  • Trend: This oversight affects the accuracy of financial statements.
  • List: Management should ensure all audit adjustments are posted to align financial records with the audit report.

Finding Text

2023–1 Prior Year Audit Entries Not Posted Condition: Management failed to post prior year audit entries. Criteria: Agreed upon audit adjustments must be posted to the financial statements each year. Cause: The cause is undeterminable. Effect: The financial statement records did not contain all financial transactions of the property. Recommendation: I recommend management post audit entries to agree financial records to audit report.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 497531 2023-001
    Significant Deficiency
  • 497532 2023-002
    Significant Deficiency Repeat
  • 497533 2023-003
    Significant Deficiency
  • 497534 2023-004
    Significant Deficiency Repeat
  • 1073974 2023-002
    Significant Deficiency Repeat
  • 1073975 2023-003
    Significant Deficiency
  • 1073976 2023-004
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $3.28M
14.195 Section 8 Housing Assistance Payments Program $225,708