FAC Explorer

Finding 1155937 (2024-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-09-29
Audit: 368361
Organization: Midwest Association of Fish and Wildlife Agencies (KS)
Auditor: Evers and Company Cpa's LLC

AI Summary

  • Core Issue: The accounting staff can record daily transactions but lacks skills to prevent and correct errors or prepare financial statements properly.
  • Impacted Requirements: This affects compliance with the modified cash basis of accounting and the accuracy of financial reporting.
  • Recommended Follow-Up: Provide targeted training for the accounting team to enhance their skills in financial statement preparation and error detection.

Finding Text

Cause of Condition: In evaluating the control environment of the Organization, we considered the abilities of the Organization’s accounting staff, and though proficient in recording daily transactions, did not demonstrate abilities we considered necessary to prevent, detect and correct misstatements, or the ability to draft the financial statements, related footnote disclosures and SEFA in accordance with the modified cash basis of accounting.

Corrective Action Plan

Recommendation: We recommend that the Board of Directors be aware of the internal control deficiencies over financial reporting. And, if possible, implement procedures to ensure that the Organization has the expertise necessary to prevent, detect and correct misstatements and be capable of drafting the financial statements, related footnote disclosures and SEFA in accordance with the modified cash basis of accounting.

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1155931 2024-001
    Material Weakness Repeat
  • 1155932 2024-002
    Material Weakness Repeat
  • 1155933 2024-003
    Material Weakness Repeat
  • 1155934 2024-001
    Material Weakness Repeat
  • 1155935 2024-002
    Material Weakness Repeat
  • 1155936 2024-003
    Material Weakness Repeat
  • 1155938 2024-002
    Material Weakness Repeat
  • 1155939 2024-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
15.628 Multistate Conservation Grant $563,208
15.664 Fish and Wildlife Coordination and Assistance $143,834
15.670 Adaptive Science $132,880