FAC Explorer

Finding 52179 (2022-002)

Material Weakness
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-03-28
Audit: 49629
Organization: Ahepa 232, Inc. (IN)
Auditor: Clark Schaefer Hackett & Company

AI Summary

  • Answer: Internal controls failed to identify and address compliance issues promptly.
  • Trend: Ongoing lapses in compliance management indicate a need for stronger oversight.
  • List: Recommend reviewing and enhancing internal controls to ensure timely detection and correction of noncompliance.

Finding Text

Operation over the internal control over compliance did not prevent or detect and correct material noncompliance on a timely basis by management or employees in the normal course of performing their assigned functions.

Corrective Action Plan

Finding 2022-002 - Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects 14.155 Concur or Do Not Concur with this Finding Concur Agree or Disagree with auditor recommendations Agree Completion Date or Proposed Completion Date September 15, 2022 Actions Taken or Planned on the Finding Management has strengthened and improved internal control over compliance with respect to required residual receipts deposit. Contact Person First Name Dawn Contact Person Last Name Cole

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.155 Mortgage Insurance for the Purchase Or Refinancing of Existing Multifamily Housing Projects $3.02M
14.314 Assisted Living Conversion for Eligible Multifamily Housing Projects $2.09M
14.195 Section 8 Housing Assistance Payments Program $507,096
14.191 Multifamily Housing Service Coordinators $31,392