Answer: There is a significant flaw in our internal control system that could lead to errors or fraud.
Trend: This issue has been identified as a recurring problem, indicating a need for stronger oversight and processes.
List: Recommended actions include reviewing current controls, enhancing training for staff, and implementing regular audits to ensure compliance.
Finding Text
Material Weakness in Internal Control
Corrective Action Plan
The organization has implemented controls in the subsequent period to make sure that the financials records are closed, reviewed and incomplaince with U,S GAAP.
Categories
Material WeaknessInternal Control / Segregation of Duties