Finding Text
Finding 2023-005: Restricted Net Assets Restatement - Condition and Criteria: The Organization must maintain accurate records and internal controls to ensure that financial statements are free of material misstatement, including the proper classification of net assets. During the audit, material adjustments were required to correct restricted net assets for prior years. The adjustments were necessary due to contributions and/or grant funds that had been incorrectly classified as unrestricted rather than donor-restricted. This misstatement resulted in a material errors in previously issued financial statements.