Finding 51378 (2022-001)

2022 ? 001 Type of Finding: ? Material Weakness in Internal Control over Financial Reporting Condition: The internal control system does not include the preparation of financial statements and the related disclosures in accordance with accounting principles generally accepted in the United States of America. Criteria or specific requirement: The board of directors and management share the ultimate responsibility for the Organization?s internal control system. While it is acceptable to outsource various accounting functions, the responsibility for internal control cannot be outsourced. Effect: The Organization engages CliftonLarsonAllen LLP (CLA) to assist in preparing its financial statements and accompanying disclosures. However, as independent auditors, CLA cannot be considered part of the Organization?s internal control system. As part of its internal control over the preparation of its financial statements, including disclosures, the Organization has implemented a comprehensive review procedure to ensure that the financial statements, including disclosures, are complete and accurate. Such review procedures should be performed by an individual possessing a thorough understanding of accounting principles generally accepted in the United States of America and knowledge of the Organization?s activities and operations. Cause: The Organization?s personnel have not monitored recent accounting developments, to the extent necessary to enable them to prepare the Organization?s financial statements and related disclosures, to provide a high level of assurance that potential omissions or other errors that are material would be identified and corrected on a timely basis. Repeat Finding: Yes Recommendation: We recommend the Organization develop internal control policies to ensure preparation of financial statements and related disclosures in accordance with accounting principles generally accepted in the United States of America. Views of responsible officials and planned corrective actions: There is no disagreement with the audit finding.