Finding 1342 (2022-001)

Significant Deficiency Repeat Finding
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2023-11-07
Audit: 2497
Organization: Serving Our Children (DC)

AI Summary

  • Answer: Financial results were delayed, affecting the audit timeline.
  • Trend: This issue may lead to repeated late submissions if not addressed.
  • List: Follow up on improving financial reporting processes to ensure timely availability.

Finding Text

Financial results were not available on a timely basis in order to begin and complete the audit prior to the due date of the SF-SAC. The submission will be made after the due date

Corrective Action Plan

Serving Our Children (SOC) outsourced its accounting department to an outside CPA firm, Marcum LLP, in January of 2023. Marcum LLP undertook responsibility for reviewing all financial data and accounting practices and established new policies and procedures for the timely completion of financial information. This process resulted in an extended closing period to ensure the accuracy of the financial data as well as the implementation of effective internal controls. A timely close of the year ended September 30, 2023 is anticipated and the expectation is that this finding will not be repeated

Categories

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Other Findings in this Audit

  • 577784 2022-001
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
84.370 Administration of the D.c. Opportunity Scholarship Program $20.65M