Finding Text
Statement of Condition The Corporation’s Single Audit financial reporting package and Data Collection Form (SF-SAC) for 2022 was not filed by the required due date. Criteria The audit package and data collection form shall be submitted the earlier of thirty days after receipt of the auditor’s report, or nine months after the end of the fiscal year. Effect of Condition The Corporation did not meet the timely submission requirement and cannot be considered a low-risk auditee in the next single audit reporting period. Cause of Condition Corporation management relies on the assistance of the independent auditor for preparation of the data collection form and submission to the Federal Audit Clearinghouse. The process failed to prepare and submit the required forms prior to the reporting deadline. Recommendation We recommend that management work with their independent auditor to ensure that a proper data collection form be submitted on a timely basis for the current year. View of Responsible Officials and Planned Corrective Action Management will work with their independent auditor to ensure that a proper data collection form will be submitted on a timely basis for the 2023 audit.