Answer: There is a material weakness in internal controls due to missing documentation for performance report approvals.
Trend: This issue indicates a recurring problem with compliance and accountability in the review process.
List: Ensure all performance reports have documented approvals before submission to meet federal and agency standards.
Finding Text
Material Weakness in Internal Control over Compliance and Other Matters Criteria:
Federal regulations and funding agency guidelines require performance reports to undergo a review and approval process by the designated authority prior to submission. This process must be properly documented to ensure accountability and adherence to both the agency's standards and federal requirements.
Condition:
There was a lack of documentation of approval for performance reports submitted to the funding agency.
Categories
Allowable Costs / Cost PrinciplesMaterial WeaknessInternal Control / Segregation of Duties