Answer: There is a significant issue with the segregation of duties in bookkeeping and accounting.
Trend: This situation increases the risk of errors and fraud due to limited oversight.
List: Recommend hiring additional staff or redistributing tasks to ensure proper checks and balances.
Finding Text
Lack of Adequate Segregation of Duties - The Organization has a limited number of personnel that are responsible for and perform substantially all of the bookkeeping and accounting functions.
Corrective Action Plan
The Organization has evaluated the cost/benefit of hiring additional support staff to achieve proper segregation of duties and has determined that it is not practicable at the present time due to funding constraints.