FAC Explorer

Finding 398507 (2023-003)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-05-28
Audit: 307255
Organization: Brush Hill Development Corporation (MA)
Auditor: Citrin Cooperman & Company LLP

AI Summary

  • Answer: The financial audit was not completed on time due to issues in the financial closing process.
  • Trend: Delays in financial audits can indicate ongoing problems with financial management and reporting.
  • List: Review and improve the financial closing process to ensure timely audits in the future.

Finding Text

Due to the ineffective financial closing process, the Organization did not complete its financial audit within nine months of its fiscal year end.

Corrective Action Plan

Management should review its process and implement additional controls to ensure that an appropriate month and year-end reconciliation and closing process is in place. If appropriate processes are in place then the Organization should be able to file timely.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 398505 2023-001
    Material Weakness
  • 398506 2023-002
    Material Weakness
  • 974947 2023-001
    Material Weakness
  • 974948 2023-002
    Material Weakness
  • 974949 2023-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
14.239 Home Investment Partnerships Program $40,000
14.181 Supportive Housing for Persons with Disabilities $24,238