Finding Text
In order for the financial statements to be presented in accordance with generally accepted accounting principles and Title 2 U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, significant material adjustments were necessary during the audit of the financial statements at August 31,2023. Internal controls were insufficient to provide adequate recording and/or recognition of several significant account classes, namely, Fixed Asset and Net Assets reconcilation of for which the client was unable to furnish. The aforementioned internal control weaknesses, indicating the Agency's personnel lack the necessary knowledge and skills to allow for reasonable and accurate financial information.