Finding Text
Federal Program: Organization Wide and Coronavirus State and Local Fiscal Recovery Funds
Criteria: Generally accepted accounting principles (GAAP).
Condition: Material audit adjustments were required to prevent the Organization’s financial
statements from being materially misstated.
Questioned Costs: Not applicable.
Cause: Internal controls did not identify that adjustments should be recorded.
Effect: This weakness could result in undetected errors and irregularities creating material
misstatements in the Organization’s financial statements.
Information: Systemic.
Prior Year Finding: Reported as 2022-001 in prior year.
Recommendation: Improve the Organization’s financial reporting internal controls to prevent these
types of adjustments from occurring in the future. Document which accounting procedures are needed
to be completed on a recurring basis to detect material adjustments.