FAC Explorer

Finding 393343 (2023-004)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-04-16
Audit: 303623
Organization: Cable Telecommunications Association of New York, Inc. (NY)
Auditor: Cusack & Company Cpa's

AI Summary

  • Answer: Cash transfers are done by the Treasurer without a formal review or approval process.
  • Trend: This lack of oversight could lead to potential errors or misuse of funds.
  • List: Implement a formal review and approval process for cash transfers to enhance accountability.

Finding Text

Bank cash transfers are performed by the Treasurer. Currently there is not a formal review and/or approval process by the appropriate personnel related to cash transfers.

Corrective Action Plan

CTANY agrees with the recommendation that cash transfers warrant a formal review/approval process. Due to management transition over the past two years, the CTANY board and administrative consultants are working to ensure that best practices are put in place going forward to ensure the cash transfer process is adequately documented and approved.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 393340 2023-001
    Material Weakness Repeat
  • 393341 2023-002
    Material Weakness Repeat
  • 393342 2023-003
    Material Weakness Repeat
  • 969782 2023-001
    Material Weakness Repeat
  • 969783 2023-002
    Material Weakness Repeat
  • 969784 2023-003
    Material Weakness Repeat
  • 969785 2023-004
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
20.600 National Priority Safety Program, Ctany 2023 Multi-Media Statewide Awareness Campaign $1.25M