FAC Explorer

Finding 1080932 (2023-002)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-11-01
Audit: 327056
Organization: Middle East Broadcasting Networks, Inc. (VA)
Auditor: Citrin Cooperman

AI Summary

  • Core Issue: Finding 2023-001 indicates a significant understatement of expenses related to federal awards, totaling about $24.7 million.
  • Impacted Requirements: This issue affects compliance with federal reporting standards, as it is a repeat finding from 2022-004.
  • Recommended Follow-Up: Immediate corrective actions are needed to ensure accurate reporting and prevent recurrence in future audits.

Finding Text

Finding 2023-001 is also a finding for the major federal award program audit as it impacted the expenses charged to the federal award above. Prior to the adjustments to correct the balances, the expenses reported on the Schedule of Expenditures of Federal Awardsa for ALN 90.500 were understated by approximately $24,673,000. This is a repeat of finding 2022-004.

Categories

Reporting

Other Findings in this Audit

  • 504489 2023-001
    Material Weakness Repeat
  • 504490 2023-002
    Material Weakness Repeat
  • 504491 2023-003
    Material Weakness Repeat
  • 504492 2023-004
    Material Weakness
  • 1080931 2023-001
    Material Weakness Repeat
  • 1080933 2023-003
    Material Weakness Repeat
  • 1080934 2023-004
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
90.500 International Broadcasting Independent Grantee Organizations $122.58M