Finding Text
Finding No: 2024-002 Type: Significant deficiency in internal control over financial reporting - this finding is also reported as a financial statement finding in Section II, Finding 2024-002 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 identified a lack of documented procedures within the organization. Criteria: The Internal Control—Integrated Framework (2013), issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Amount: Undeterminable Cause: The absence of formalized documentation for processes and controls. Effect or Potential Effect: This deficiency can lead to various operational challenges, resulting in inconsistent practices and heightened risks across critical areas of the organization. Repeat Audit Finding: Yes