Finding 496437 (2022-001)

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Requirement
L
Questioned Costs
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Year
2022
Accepted
2024-09-11

AI Summary

  • Answer: Annual audits were submitted late, violating Federal Uniform Guidance standards.
  • Trend: This delay could indicate ongoing issues with compliance and timely reporting.
  • List: Recommend reviewing audit processes, setting earlier internal deadlines, and ensuring staff training on compliance requirements.

Finding Text

The annual audits performed under Federal Uniform Guidance standards were not timely submitted

Corrective Action Plan

Agudath Israel of America, Inc. did not timely submit their audit for fiscal year ended August 31, 2022. In the current fiscal year, the organization upgraded their accounting software. The migration of the data to the new software was a highly complex process and required additional outside consulting. As such, the Organization was unable to prepare the books and records in a timely fashion. The organization understands their reporting requirements and will comply with these regulations. The organization is committed to filing on time as required. The new software and associated financial processes will assist management in providing timely reports.The organization will ensure they will file timely in future years.

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
21.027 Coronavirus State and Local Fiscal Recovery Funds $2.10M
97.024 Emergency Food and Shelter National Board Program $92,576