FAC Explorer

Finding 497257 (2023-002)

Significant Deficiency
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-09-17
Audit: 319856
Organization: Another Choice, Another Chance (CA)
Auditor: St Group PC

AI Summary

  • Issue: The data collection form will be submitted after the deadline.
  • Impact: Poor management of the financial closing process and lack of controls led to delays, affecting the organization's risk status.
  • Next Steps: Ensure the data collection form is submitted within the required nine-month timeframe to maintain low-risk auditee status.

Finding Text

Condition: The data collection form will be submitted after that deadline. Cause: The financial closing process was not properly managed, and there were inadequate controls in place to ensure that financial data was recorded and reconciled in a timely manner. There was also a lack of communication and coordination among the different departments responsible for the financial closing process Effect: The Organization will not qualify as a low-risk auditee. Criteria: Data Collection form is to be submitted nine months from the fiscal year end date. Recommendation: Data Collection form should be submitted nine months from the fiscal year end date.

Corrective Action Plan

Views of responsible officials and corrective action: Situation: The bookkeeper was given the responsibility for financial closing after the passing of the key individual, which caused disruptions. Actions Taken: ACAC has implemented a formal closing process with a team-oriented approach. Defined clear deadlines for monthly recording and reconciliation. Established monthly meetings for communication and coordination. Currently using QuickBooks and Gusto, with plans to explore additional tools. Contracted an accounting firm to assist with monthly reconciliations and closing. All required documents will be uploaded to QuickBooks and an online portal monthly for easy audit access. Responsible Individual: Okeema Polite, CEO/ED: Responsible for ensuring information accessibility. Bookkeeper: Responsible for end-of-month reconciliation and document uploads. Accounting Firm: Finalizes the closing of the books. Vannessa Lindsey: Reviews the books and closing on a monthly basis. Implementation Date: ACAC begun implementing it with the hire of the Accounting Firm in March 2024 and took full effect on July 1, 2024.

Categories

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Other Findings in this Audit

  • 1073699 2023-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
93.787 Title V Sexual Risk Avoidance Education Program (discretionary Grants) $405,502
93.778 Medical Assistance Program $175,137
93.243 Substance Abuse and Mental Health Services_projects of Regional and National Significance $154,017
93.959 Block Grants for Prevention and Treatment of Substance Abuse $7,500