FAC Explorer

Finding 1114407 (2023-003)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2025-03-27
Audit: 348997
Organization: Autoridad Del Distrito Del Centro De Convenciones (PR)
Auditor: Rsm Puerto Rico

AI Summary

  • Answer: There is a significant risk due to insufficient separation of roles in handling manual journal entries.
  • Trend: This issue could lead to errors or fraud, as one person controls multiple critical steps.
  • List: Implement clear role divisions for creating, approving, and recording journal entries to enhance oversight.

Finding Text

There is a lack of segregation of duties surrounding the creation, approval and recording of manual journal entries.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 537963 2023-001
    Material Weakness
  • 537964 2023-002
    Material Weakness
  • 537965 2023-003
    Material Weakness
  • 537966 2023-004
    -
  • 537967 2023-005
    Significant Deficiency
  • 537968 2023-006
    Significant Deficiency Repeat
  • 1114405 2023-001
    Material Weakness
  • 1114406 2023-002
    Material Weakness
  • 1114408 2023-004
    -
  • 1114409 2023-005
    Significant Deficiency
  • 1114410 2023-006
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
21.027 Coronavirus State and Local Fiscal Recovery Funds $9.48M
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $594,115