Finding Text
Management is responsible for establishing and maintaining internal controls and for the fair presentation of the financial statements, including the related disclosures, in conformity with GAAP. Material audit differences were identified during the 2023 financial audit. NICAA has limited staff working in the accounting office. In 2024, NICAA contracted with an outside accounting firm to assist in preparation of adjustments needed for proper presentation of its 2023 financial statements. Since this relationship was new in 2024, not all material adjustments were identified during the financial close process.