Finding Text
Finding: 2023-02 – Single Audit Not Submitted Timely. Criteria: Title 2, Subtitle A, Chapter II, Part 200, Subpart F, Section 501 (a) of the Code of Federal Regulations states “A non-Federal entity that expends $1,000,000 or more during the non-Federal entity's fiscal year in Federal awards must have a single or program-specific audit conducted for that year in accordance with the provisions of this part”. Title 2, Subtitle A, Chapter II, Part 200, Subpart F, Section 512(a)(1) states “The audit, the data collection form, and the reporting package must be submitted within 30 calendar days after the auditee receives the auditor's report(s) or nine months after the end of the audit period (whichever is earlier).” Condition: For the fiscal year ended December 31, 2023, the Organization did not submit the audit, collection form and the reporting package within the stipulated timeframe. Cause: The Organization could not secure an accounting firm to complete the audit on time. Effect: The audit, the data collection form, and the reporting package were not submitted timely. Recommendation: We recommend that in the future, the Organization engage an accounting firm upon grant award, when the grant contains an audit submission requirement. Management’s Response: Management of the Organization has an accounting firm engaged who will perform future required audits.