Finding Text
2023-002 – Allowable costs/activities allowed - Review and approval of cost reimbursements and journal entriesCondition and Context: Accounting tasks such as review and approval of cost reimbursements and journal entries play a key role in proving the accuracy of accounting data and information included in interim SEFA. During the audit, we noted various incidences in which required second approvals for cost reimbursements exceeding specified thresholds were not completed in accordance with the Organization’s approval procedures. We also noted various incidences in which correcting journal entries were posted to reimbursement cost amounts reported on the schedule of federal awards. In addition, we noted missing documentation for an item selected for testing.