FAC Explorer

Finding 1164553 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2025-12-11
Audit: 374129
Organization: Ginseng Board of Wisconsin, Inc. (WI)
Auditor: KERBERROSE SC

AI Summary

  • Core Issue: The internal control system lacks a process for preparing annual audited financial statements and related disclosures.
  • Impacted Requirements: This affects compliance with generally accepted accounting principles and Uniform Guidance for federal awards.
  • Recommended Follow-Up: Implement a process to ensure proper preparation and compliance with financial reporting standards.

Finding Text

During our audit, we noted that the internal control system does not include a process for preparing the annual audited financial statements, schedule of expenditures of federal awards, and the related disclosures in accordance with generally accepted accounting principles and the schedule of expenditures of federal awards in accordance with Uniform Guidance.

Corrective Action Plan

This finding will not completely resolve itself given the cost/benefit basis the Organization continues to make.

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1164546 2025-001
    Material Weakness Repeat
  • 1164547 2025-001
    Material Weakness Repeat
  • 1164548 2025-001
    Material Weakness Repeat
  • 1164549 2025-001
    Material Weakness Repeat
  • 1164550 2025-001
    Material Weakness Repeat
  • 1164551 2025-001
    Material Weakness Repeat
  • 1164552 2025-001
    Material Weakness Repeat
  • 1164554 2025-002
    Material Weakness Repeat
  • 1164555 2025-002
    Material Weakness Repeat
  • 1164556 2025-002
    Material Weakness Repeat
  • 1164557 2025-002
    Material Weakness Repeat
  • 1164558 2025-002
    Material Weakness Repeat
  • 1164559 2025-002
    Material Weakness Repeat
  • 1164560 2025-002
    Material Weakness Repeat
  • 1164561 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.605 QUALITY SAMPLES PROGRAM $269,297
10.604 TECHNICAL ASSISTANCE FOR SPECIALTY CROPS PROGRAM $126,284
10.601 MARKET ACCESS PROGRAM $110,512
10.618 REGIONAL AGRICULTURAL PROMOTION PROGRAM $98,931
10.170 SPECIALTY CROP BLOCK GRANT PROGRAM - FARM BILL $54,362