Finding 1141822 (2024-001)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-06-19
Audit: 359239
Organization: Regional Water (IA)

AI Summary

  • Answer: There is a problem with internal controls that could lead to financial statement errors not being caught or fixed quickly.
  • Trend: This deficiency can result in ongoing issues with financial reporting accuracy and reliability.
  • List: Management should review and strengthen internal controls to ensure timely detection and correction of any misstatements.

Finding Text

Criteria – A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements of the financial statements on a timely basis

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 565380 2024-001
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.760 Water and Waste Disposal Systems for Rural Communities $8.03M