Finding Text
Finding 2024-003 - Reporting
Idenfication of federal program: Assistance Listing No. 93.493 - Congressional Directives
Criteria or specific requirement: Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards requires that the auditee maintain internal control over financial reporting which includes supervisory review of reports prepared and submitted to the grantor to assure accuracy and completeness of data included in the reports.
Condition: We noted an incorrect progress report being submitted to the grantor.
Cause: Formal internal control policies and procedures requiring supervisory review of reports have not been established.
Effect or potential effect: The lack of adequate internal control policies and procedures requiring timely supervisory review of reports filed with grantor may result in inaccurate information being reported and non-compliance with program requirements. This finding resulted in an incorrect progress report being submitted to the grantor.
Questioned cost: not applicable.
Context: An incorrect progress report was submitted to the grantor.
Recommendation: We recommend that the System establish formal internal control policies and procedures requiring supervisory review and approval of all reports filed with the grantor to assure the accuracy and completeness of data included in such reports. All such reviews and approvals should be properly documented.
Views of responsible officials: The System concurs with this finding. See page 54 for corrective action plan.