FAC Explorer

Finding 1136306 (2024-001)

Significant Deficiency
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-05-08
Audit: 355800
Organization: South Central Indiana Rural Electric Membership Corporation (IN)
Auditor: Lwg CPAS & Advisors

AI Summary

  • Answer: There is a lack of proper segregation of duties in accounting tasks at South Central Indiana REMC.
  • Trend: This issue has persisted throughout the year ending December 31, 2024, indicating ongoing control weaknesses.
  • List: Recommend reviewing and restructuring roles to ensure duties are appropriately separated to enhance internal controls.

Finding Text

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

Categories

No categories assigned yet.

Other Findings in this Audit

  • 559864 2024-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $1.84M