FAC Explorer

Finding 1154961 (2025-003)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2025-09-24
Audit: 367301
Organization: Miami-Cass County Rural Electric Membership Corporation (IN)
Auditor: Lwg CPAS & Advisors

AI Summary

  • Answer: There is a lack of proper duty segregation among employees in accounting tasks.
  • Trend: This issue has persisted through the year ending April 30, 2025.
  • List: Review and implement stronger controls to ensure duties are appropriately segregated.

Finding Text

More than one employee has the ability to complete multiple parts of tasks. For the year ended April 30, 2025, Miami-Cass REMC and Subsidiary has failed to appropriately segregate duties in certain accounting areas consistent with control objectives.

Corrective Action Plan

Management of Miami-Cass REMC and Subsidiary was aware of lack of segregation of duties. It would not be cost effective to hire additional employees to properly segregate duties at this time. Management Agrees with the findings.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1154959 2025-001
    Material Weakness Repeat
  • 1154960 2025-002
    Material Weakness Repeat
  • 1154962 2025-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
21.029 Coronavirus Capital Projects Fund $3.27M