Finding 395029 (2023-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-04-29
Audit: 304965
Organization: Child Care Links Association (KS)

AI Summary

  • Answer: Employees must not have conflicting responsibilities to prevent fraud and errors.
  • Trend: Organizations are increasingly focusing on segregation of duties as a key internal control measure.
  • List: Review current roles, identify incompatible duties, and implement necessary changes to strengthen controls.

Finding Text

Internal controls should be in place to insure that employees do not have incompatible duties.

Corrective Action Plan

Procedures should be established and implemented where the Organization segregates duties in the receipts and expenditures cycles and implements additional controls over the accounting and recording functions. Involvement by the Board of Directors can help mitigate the risk of error or fraud. The Board of Directors should remain involved in the financial affairs of the Organization with oversight and independent review of internal control functions.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 971471 2023-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.558 Child and Adult Care Food Program $1.53M