Finding Text
Condition: Account analyses and reconciliations were performed, however, unrecorded transactions, including those related to payroll, were identified but were not corrected in a timely manner. Criteria: Internal controls should be in place to ensure that transactions are recorded in a timely manner. Cause: Internal controls were inadequate to ensure that all transactions are recorded in a timely manner. Effect: The financial statements had material reporting errors that needed to be corrected during the audit. Questioned Costs: This finding did not result in any questioned costs. Recommendation: We recommend the Agency improve internal control procedures to identify and correct deficiencies that are resulting in reporting errors. Views of Responsible Officials and Planned Corrective Action: Management agrees with this audit finding. See the accompanying Corrective Action Plan.