FAC Explorer

Finding 31459 (2022-002)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-03-26
Audit: 25808
Organization: Metro Community Ministries, Inc. (CA)
Auditor: Munger & Company CPAS

AI Summary

  • Core Issue: Many transactions lack proper account coding and approval before being recorded.
  • Impacted Requirements: Transactions must be coded and approved as per accounting standards and government auditing guidelines.
  • Recommended Follow-Up: Implement a policy to ensure all financial transactions are routinely coded and approved.

Finding Text

2022-002 Account Coding and Approvals Condition: We noted that many transactions did not contain account coding or approval prior to being recorded in the accounting system. Criteria: In accordance with accounting principles generally accepted in the United States of America and generally accepted Government Auditing Standards, organizations are to record and approve transactions prior to entering them into the accounting system. Cause: Management has not performed these procedures to ensure the transactions were properly entered. Effect: Without management ensuring the proper coding and approval, it is possible that transactions could be entered incorrectly into the accounting system. Recommendation: We recommend that the Organization require that financial transactions be coded and approved in a policy to ensure they this is performed on a routine basis.

Corrective Action Plan

Finding 2022-002 Planned Corrective Action: Management will ensure that all transactions have proper coding and approvals on them prior to entry into the accounting software. Lina Womack, CEO, will be responsible for this oversight and estimates the completion date to be October 31, 2023.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 31458 2022-001
    Material Weakness
  • 31460 2022-001
    Material Weakness
  • 31461 2022-002
    Material Weakness
  • 31462 2022-001
    Material Weakness
  • 31463 2022-002
    Material Weakness
  • 31464 2022-001
    Material Weakness
  • 31465 2022-002
    Material Weakness
  • 31466 2022-001
    Material Weakness
  • 31467 2022-002
    Material Weakness
  • 31468 2022-001
    Material Weakness
  • 31469 2022-002
    Material Weakness
  • 607900 2022-001
    Material Weakness
  • 607901 2022-002
    Material Weakness
  • 607902 2022-001
    Material Weakness
  • 607903 2022-002
    Material Weakness
  • 607904 2022-001
    Material Weakness
  • 607905 2022-002
    Material Weakness
  • 607906 2022-001
    Material Weakness
  • 607907 2022-002
    Material Weakness
  • 607908 2022-001
    Material Weakness
  • 607909 2022-002
    Material Weakness
  • 607910 2022-001
    Material Weakness
  • 607911 2022-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
17.270 Reintegration of Ex-Offenders $588,030
16.812 Second Chance Act Reentry Initiative $204,810
17.277 Workforce Investment Act (wia) National Emergency Grants $194,750
16.123 Community-Based Violence Prevention Program $34,511
17.274 Youthbuild $22,263
66.306 Environmental Justice Collaborative Problem-Solving Cooperative Agreement Program $21,380