Finding Text
Criteria and Condition: There is a lack of segregation of duties over financial reporting. Context: There is not a sufficient control environment over recording transactions and over detective controls. Cause: Due to the size of staff, there is a lack of segregation of duties. Potential Effect: Errors could occur in financial reporting. Recommendation: Someone independent of the bookkeeping function should review financial records to establish a segregation of duties. Views of Responsible Officials and Planned Corrective Actions: Management understands the importance of segregation of duties. Borough of Collegeville will ensure work on establishing segregation going forward.