Finding 1167401 (2022-002)

Material Weakness Repeat Finding

Requirement

Questioned Costs

Year

2022

Accepted

2025-12-31

Audit: 378469

Organization: Compañia de Turismo de Puerto Rico (PR)

Auditor: RSM PUERTO RICO

AI Summary

Core Issue: The Company failed to submit 12 out of 18 required bi-weekly financial reports on time.
Impacted Requirements: This noncompliance may lead to issues with reporting obligations.
Recommended Follow-up: Ensure key personnel are trained and implement procedures to guarantee timely report submissions.

Finding Text

Condition: The Company did not submit or submit with delay the required bi-weekly financial reports. Cause: The key personnel in-charge of reporting requirements did not perform the procedures to assure that reports were submitted on time. Effect or potential effect: Condition may result in noncompliance with the requirements for reporting. Questioned Costs: None Context: The Company did not submit twelve (12) of eighteen (18) of the financial reports required for the following dates: Bi-weekly report due November 19, 2021 April 1, 2022 February 4, 2022 January 7, 2022 May 20, 2022 April 22, 2022 February 18, 2022 January 21, 2022 June 3, 2022 May 6, 2022 March 18, 2022 June 17, 2022 Also, the Company submitted with delay three (3) of the six (6) submitted reports. The delayed reports were the following: Bi-weekly report due date Filling date November 5, 2021 Days on delay November 10, 2021 December 3, 2021 December 4, 2021 5 days December 17, 2021 1 day December 20, 2021

Corrective Action Plan

Views of responsible officials: The Company will establish a clear and organized calendar for the submission of all required reports. This calendar will serve as a reference to ensure that all deadlines are met, helping to improve overall efficiency. By outlining specific dates for each report will avoid delays and ensure that all required reports and documentation are submitted on time, contributing to a more effective report delivery process.

Other Findings in this Audit

1167400 2022-001

Material Weakness Repeat
1167402 2022-003

Material Weakness Repeat

Programs in Audit

ALN	Program Name	Expenditures
21.027	CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS	$1.99M