FAC Explorer

Finding 1135462 (2024-001)

Significant Deficiency
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-05-01
Audit: 355278
Organization: Southeastern Indiana Rural Electric Membership Corporation (IN)
Auditor: Lwg CPAS & Advisors

AI Summary

  • Answer: There is a lack of proper duty segregation among employees in key accounting tasks.
  • Trend: This issue has persisted throughout the year ending December 31, 2024, indicating a potential risk in internal controls.
  • List: Review and implement stronger controls to ensure duties are appropriately segregated to mitigate risks.

Finding Text

More than one employee has the ability to complete multiple parts of tasks. For the year ended December 31, 2024, Southeastern Indiana REMC has failed to appropriately segregate duties in certain accounting areas consistent with control objectives.

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Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
21.029 Coronavirus Capital Projects Fund $7.37M