Answer: The Organization failed to secure a fidelity bond or employee dishonesty coverage for the year ending September 30, 2025.
Trend: This oversight could indicate a pattern of inadequate risk management practices.
List: Recommend obtaining the necessary coverage immediately and reviewing policies annually to ensure compliance.
Finding Text
The Organization did not obtain a fidelity bond or employee dishonesty coverage policy during the year ended September 30, 2025.
Corrective Action Plan
Management is in process with the insurance company to obtain a fidelity bond or employee dishonesty coverage policy in order to meet the requirements of the Regulatory Agreement.