Finding Text
The Corporation’s Single Audit financial reporting package and Data Collection Form (SF-SAC) for 2020 was not filed by the required due date. The audit package and data collection form shall be submitted the earlier of thirty days after receipt of the auditor’s report, or nine months after the end of the fiscal year. The Corporation did not meet the timely submission requirement and cannot be considered a low-risk auditee in the next single audit reporting period. Corporation management relies on the assistance of the independent auditor for preparation of the data collection form and submission to the Federal Audit Clearinghouse. The process failed to prepare and submit the required forms prior to the reporting deadline.