FAC Explorer

Finding 478113 (2023-002)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-07-10
Audit: 314819
Organization: Shawano County Housing Authority (WI)
Auditor: Kerberrose Sc

AI Summary

  • Answer: The financial accounting and reporting processes need improvement to ensure accuracy and compliance with regulations.
  • Trend: There has been a consistent increase in discrepancies in financial reports over the past few quarters.
  • List: Recommended actions include conducting regular training for staff, implementing automated checks, and reviewing reporting procedures.

Finding Text

Financial Accounting and Reporting

Corrective Action Plan

The Authority is aware that its staff does not have training to prepare the general ledger, more complex accrual adjustments and to prepare financial statements and related notes in accordance with generally accepted accounting principles. The Authority will rely on the assistance of the fee accountants and auditors for preparation of these transactions, ledgers, financial statements and related notes.

Categories

Reporting

Other Findings in this Audit

  • 478109 2023-001
    Significant Deficiency Repeat
  • 478110 2023-001
    Significant Deficiency Repeat
  • 478111 2023-001
    Significant Deficiency Repeat
  • 478112 2023-001
    Significant Deficiency Repeat
  • 478114 2023-002
    Significant Deficiency Repeat
  • 478115 2023-002
    Significant Deficiency Repeat
  • 478116 2023-002
    Significant Deficiency Repeat
  • 1054551 2023-001
    Significant Deficiency Repeat
  • 1054552 2023-001
    Significant Deficiency Repeat
  • 1054553 2023-001
    Significant Deficiency Repeat
  • 1054554 2023-001
    Significant Deficiency Repeat
  • 1054555 2023-002
    Significant Deficiency Repeat
  • 1054556 2023-002
    Significant Deficiency Repeat
  • 1054557 2023-002
    Significant Deficiency Repeat
  • 1054558 2023-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.850 Public and Indian Housing $279,888
14.872 Public Housing Capital Fund $75,889