Finding Text
2024-002 Inadequate Documentation of the Components of Internal Control
Criteria: The components of internal control and the related processes should be clearly documented and all employees should be aware of them.
Condition: Although functioning controls are in place they have not been documented.
Effect: There is a risk that controls may become ineffective due to staff turnover or deterioration of processes.
Cause: The limited staff of WAID has precluded them from documenting control procedures.
Identification of a repeat finding: This is a repeat finding from the June 30, 2023 audit.
Recommendation: Document existing control policies and procedures.
Management's Response: WAID agrees with this finding and will adhere to the corrective action plan detailed in the following section.