Finding Text
Finding No: 2024-001 Type: Material Weakness in internal control over financial reporting - this finding is also reported as a financial statement finding in Section II, Finding 2024-001 Major Program Affected: Agency: U.S. Department of Agriculture Program Name: American Rescue Plan Technical Assistance Investment Program Assistance Listing No.: 10.234 Award No.: 2023-70417-39226 Compliance Requirement: Allowable Costs / Cost Principles B Condition: The audit has a reasonable possibility that material misstatements in the entity's financial statements may not be prevented, detected, or corrected in a timely manner. Criteria: The Internal Control—Integrated Framework (2013), issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Amount: Undeterminable Cause: Lack of effective safeguards that could impact the reliability of the financial reporting process. Effect or Potential Effect: This deficiency raises concerns about the reliability of the financial reporting process, indicating that existing controls may be inadequate to safeguard against errors or fraudulent activities that could impact the financial statements. Repeat Audit Finding: Yes