Finding Text
During our cash testing, we noted that on December 11, 2023, there was a bank transfer of $1,000 to an unknown reserve line. On January 15, 2024, the Management Agent Controller conducted an inquiry and contacted the Vice President of the Corporation's Board of Directors to contact the bank to determine if this transaction was fraudulent. Per the audit financials, this transaction is recorded as a deposit in transit in the cash operating account until the bank investigation is completed.