Finding Text
Finding 2023-008 Late Issuance of 2023 Single Audit Reporting Package
Type of Finding:
Noncompliance
Condition and Context:
The Organization is required to submit the reporting package by the deadline required by Uniform Guidance, which was September 30, 2024 for the year ended December 31, 2023. The Organization failed to file their report by this deadline.
Criteria:
The Uniform Guidance (2 CFR §200.512) requires the single audit to be completed and the data collection form and reporting package to be submitted within the earlier of 30 calendar days after receipt of the auditor’s report, or nine months after the end of the audit period.
Cause:
The audit was not completed by September 30, 2024, due to timeliness of information being available to complete the audit.
Effect:
Failure to file the reporting package to the Federal Audit Clearinghouse timely delays the Organization's funders from their ability to evaluate the results of the Organization's audit and compliance over major programs. This impacts their ability to properly monitor the use of federal funds.
Questioned Costs:
There were no questioned costs identified.
Repeat Finding:
This is not a repeat finding.
Recommendation:
It is recommended that the Organization improve their financial statement close process and provide more timely information to complete the audit to ensure it is able to file the reporting package by the deadline.
Views of Responsible Officials:
The Organization retained a licensed CPA firm with significant expertise in financial reporting and single audit compliance. The CPA firm will work proactively with VOICES to ensure that all financial statements, schedules, and compliance documents are completed, reviewed, and filed well in advance of the reporting deadline.