Upon review of the findings and associated context, we acknowledge that our controls were inadequate to ensure the retention of supporting documentation for grant reimbursement requests. Specifically, the absence of ledger detail supporting the amount of the grant reimbursement is a concern.
In response to this finding, we will take immediate corrective actions:
1. Develop and implement comprehensive procedures for the retention of supporting documentation for grant reimbursement requests. These procedures will include clear guidelines on the types of documentation required and the timeframe for retention.
2. Enhance internal controls to ensure that ledger detail supporting grant reimbursement amounts is consistently maintained and readily accessible for review.1. Provide training to relevant staff members involved in grant management and financial reporting to ensure understanding and compliance with the new procedures.
2. Conduct regular internal audits to monitor adherence to the established procedures and identify any areas for improvement.
We are committed to addressing this finding promptly and effectively to ensure compliance with grant requirements and best practices in financial management. We value your insights and feedback and welcome any further guidance or assistance from your team to facilitate this process.