Finding 513892 (2024-001)

Material Weakness
Requirement
A
Questioned Costs
-
Year
2024
Accepted
2024-12-11

AI Summary

  • Core Issue: Lack of proper segregation of duties in accounting roles increases risk of errors or fraud.
  • Impacted Requirements: Internal control measures are insufficient due to limited staff handling multiple financial responsibilities.
  • Recommended Follow-Up: Consider cross-training staff or hiring additional personnel to enhance internal controls.

Finding Text

Segregation of Duties – One important aspect of internal control is the segregation of duties among employees to prevent an individual employee from handling duties which are incompatible. Boys and Girls Clubs of Story County, Inc. has a limited number of people which have the primary responsibility for most of the accounting and financial duties, as a result some of the aspects of internal control are missing.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 513891 2024-001
    Material Weakness
  • 1090333 2024-001
    Material Weakness
  • 1090334 2024-001
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
21.027 Coronavirus State and Local Fiscal Recovery Funds $79,782