FAC Explorer

Finding 480240 (2023-001)

Significant Deficiency
Requirement
A
Questioned Costs
-
Year
2023
Accepted
2024-08-01
Audit: 316472
Organization: Ag Land Trust (CA)
Auditor: The Pun Group LLP

AI Summary

  • Answer: Management needs to create procedures to reduce adjustments to financial statements during audits.
  • Trend: Consistent adjustments indicate a need for improved financial reporting practices.
  • List: Recommended actions include training staff, reviewing processes, and establishing clear guidelines for financial reporting.

Finding Text

Management should implement procedures to ensure that financial statements presented for audit require minimal adjustments and reclassifications.

Corrective Action Plan

Condition:

Categories

No categories assigned yet.

Other Findings in this Audit

  • 480241 2023-002
    Significant Deficiency
  • 1056682 2023-001
    Significant Deficiency
  • 1056683 2023-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
12.021 Army National Guard Army Compatible Use Buffer Program $1.22M