FAC Explorer

Finding 1214869 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-05-18
Audit: 401592
Organization: Heartland Rural Electric Membership Corporation (IN)
Auditor: LWG CPAS & ADVISORS

AI Summary

  • Answer: Heartland REMC has not properly separated duties in accounting tasks.
  • Trend: This issue has been ongoing and affects internal controls.
  • List: Review and implement proper duty segregation to enhance control objectives.

Finding Text

More than one employee has the ability to complete multiple parts of tasks. For the year ended December 31, 2025, Heartland REMC has failed to appropriately segregate duties in certain accounting areas consistent with control objectives.

Corrective Action Plan

Management of Heartland REMC was aware of lack of segregation of duties. It would not be cost effective to hire additional employees to properly segregate duties at this time. Management agrees with the findings.

Categories

No categories assigned yet.

Programs in Audit

ALN Program Name Expenditures
21.029 CORONAVIRUS CAPITAL PROJECTS FUND $1.02M