Finding 13104 (2022-004)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-09-28
Audit: 17459
Organization: Borough of Berwick (PA)

AI Summary

  • Core Issue: The Borough is relying on auditors to draft financial statements instead of hiring a qualified accountant.
  • Impacted Requirements: This approach may compromise the quality and accuracy of financial reporting.
  • Recommended Follow-up: Management should take responsibility for preparing financial statements and notes as advised by auditors.

Finding Text

2022-004 General - Financial Statement Preparation In connection with the audit of the Borough?s financial statements, like most smaller local governmental entities, management has requested that the auditors assist in the drafting of the schedule of expenditures of federal awards. Effect: Borough management has determined that it is more cost-beneficial to utilize the services of its auditors to assist in drafting financial statements, as opposed to hiring a professional accountant trained in such matters. Population and Items Tested: N/A; Finding is based upon the understanding and review of the internal control system. Auditor's Recommendation: Management should prepare the financial statements and related notes. The Borough?s planned corrective action is in its Corrective Action Plan at the end of this report.

Corrective Action Plan

Finding 2022-004 Grant Program/CFDA#: COVID-19 Local Fiscal Recovery Funds, 21.027 Federal Agency/Pass-Through Entity: United States Department of Treasury Finding - General - Financial Statement Preparation: In connection with the audit of the Borough of Berwick?s financial statements, like most smaller local governmental entities, management has requested that its external auditors assist in the drafting of the schedule of expenditures of federal awards. Borough management has determined that it is more cost-beneficial to utilize the services of its auditors to assist in drafting the schedule of expenditures of federal awards, as opposed to hiring a professional accountant trained in such matters. While the Borough?s internal accounting personnel have the ability to interpret and understand its schedule of expenditures of federal awards, they do not have sufficient experience in preparing that schedule in accordance with generally accepted accounting principles. It was recommended by the auditors that management should prepare its schedule of expenditures of federal awards. However, in evaluating this need, the Borough must weigh the cost of employing additional personnel against the benefits to be derived therefrom. Borough Response: The Borough will consider training staff to achieve these duties, but it does not expect to hire additional personnel to perform these duties.

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 13105 2022-005
    Significant Deficiency
  • 589546 2022-004
    Material Weakness
  • 589547 2022-005
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.65M
14.239 Home Investment Partnerships Program $263,907
16.710 Public Safety Partnership and Community Policing Grants $141,274
14.218 Community Development Block Grants/entitlement Grants $70,927