Answer: Inadequate policies and procedures resulted in questionable journal entries.
Trend: This issue highlights a recurring pattern of insufficient internal controls.
List: Review and strengthen policies, implement training, and establish regular audits to prevent future occurrences.
Finding Text
The lack of appropriate policies, procedures, and internal processes led to journal entries identified during the course of the audit.
Corrective Action Plan
Management agreed with the recommendation and the Organization will enhance its controls and procedures to ensure all journal entries are made accurately and timely.