Finding Text
The ROE does not have sufficient internal controls over the financial reporting process. While the ROE maintains controls over the processing of most accounting transactions, there are not sufficient controls over the preparation of the cash basis financial statements for management or employees in the normal course of performing their assigned functions to prevent or detect financial statement misstatements and disclosure errors and omissions in a timely manner. During review of the ROE’s accounting records, auditors noted the ROE should be a single audit for the year ended June 30, 2023. Auditors then reviewed the initial draft financial statements provided by the ROE and noted the ROE had not included the Schedule of Expenditures of Federal Awards in the financial statements.