Finding Text
Late Audit Submission to Federal Audit Clearinghouse Year Initially Occurring: 2025 CONDITION: The Commission’s audit report was not completed and submitted to the Federal Clearinghouse within nine months of year end. CRITERIA: 2 CFR 200.512 (a) (1) states in part “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)……” CAUSE: The reporting package was not submitted within the required timeframe due to delays in completion of the audit, which were impacted by the failure to reconcile accounts in a timely manner. EFFECT: The Commission is not compliant with 2 CFR 200.512. RECOMMENDATION: We recommend that the Commission should strengthen its financial reporting and year-end closing processes to ensure that all necessary information is prepared and available in a timely manner to facilitate completion of the audit within required reporting deadlines.