Answer: Financial statements were submitted late, missing the nine-month deadline.
Trend: This indicates a need for improved systems and procedures for timely financial record availability.
List: Implement measures to ensure compliance with filing deadlines and enhance audit readiness.
Finding Text
Cohen noted the audited financial statements were not submitted by the ninemonth filing requirement. Systems and procedures should be in place to ensure financial records are available to be audited in a timely manner.
Corrective Action Plan
The Organization has implemented new controls and staffing recently that are intended to remediate this matter.