FAC Explorer

Finding 1215898 (2024-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2026-05-28
Audit: 402483
Organization: Sistercare, INC (SC)
Auditor: PHILLIPS CPAS AND ADVISORS

AI Summary

  • Core Issue: There is insufficient separation of accounting duties, allowing individuals to manage both physical assets and their accounting records.
  • Impacted Requirements: This situation violates internal controls designed to prevent fraud and errors in financial reporting.
  • Recommended Follow-Up: Implement clear segregation of duties to ensure different individuals handle physical assets and accounting records.

Finding Text

There is a lack of segregation of accounting duties that enables the same individuals to have access to both physical assets and the related accounting records or to all phases of a transaction.

Corrective Action Plan

The duties will be segregated as much as possible. We understand that in most cases, the added cost of providing absolute segregation of duties will outweigh the projected benefits of the added internal controls and therefore, may be considered unjustified. Sistercare, Inc. will ensure that the Board of Directors will remain involved in the financial affairs of the Organization to provide oversight and independent review functions.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 1215897 2024-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
16.736 TRANSITIONAL HOUSING ASSISTANCE FOR VICTIMS OF DOMESTIC VIOLENCE, DATING VIOLENCE, STALKING, OR SEXUAL ASSAULT $170,506
14.267 CONTINUUM OF CARE PROGRAM $165,371
16.575 CRIME VICTIM ASSISTANCE $151,860
14.218 COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS $74,940
93.558 TEMPORARY ASSISTANCE FOR NEEDY FAMILIES $57,389
14.231 EMERGENCY SOLUTIONS GRANT PROGRAM $27,874
16.588 VIOLENCE AGAINST WOMEN FORMULA GRANTS $24,759
93.671 FAMILY VIOLENCE PREVENTION AND SERVICES/DOMESTIC VIOLENCE SHELTER AND SUPPORTIVE SERVICES $18,478