Answer: Management admits to noncompliance this fiscal year.
Trend: Steps are being taken to enhance internal controls for better compliance.
List: Management will track security deposit refunds to align with Regulatory Agreement standards.
Finding Text
Management acknowledges noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Management will monitor security deposit refunds in order to ensure refunds meet the Regulatory Agreement requirements.
Corrective Action Plan
Management acknowledges noncompliance in the current fiscal year and has taken measures to improve internal controls over compliance. Management will monitor security deposit refunds in order to ensure refunds meet the Regulatory Agreement requirements.