Finding Text
Failure to complete audit within 9 months after fiscal year end.
Condition: The Organization failed to have its audit completed within nine months after its
fiscal year end of June 30, 2023.
Criteria: HUD guidelines state that within nine months following the end of the fiscal year,
the Organization shall prepare a financial report for the Organization’s year end, or the portion
thereof that started with the Organization’s assumption of financial responsibility.
Effect: The audit was not completed as of March 31, 2023, which is nine months after the
fiscal year end of June 30, 2023.
Cause: Management failed to have the audit completed within nine months due to lack of
communication with the auditor.
Recommendation: We recommend the Organization have its audit completed within nine
months of the fiscal year end.
Auditee’s Response: The Organization will work towards having all materials ready in order for
the audit to be completed on time for the next fiscal year end.