FAC Explorer

Finding 529620 (2023-001)

Material Weakness
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2025-03-24
Audit: 347539
Organization: Arab American Family Services (IL)
Auditor: Ringold Financial Management Services INC

AI Summary

  • Answer: Ringold helped correct significant errors in financial statements to align with GAAP.
  • Trend: Multiple adjustments were made for cash, receivables, fixed assets, accrued expenses, deferred revenue, and leases.
  • List: Follow up on the implementation of these adjustments to ensure ongoing compliance and accuracy.

Finding Text

Controls over Finanical Statement Preparation - During the audit, Ringold assisted the Organization in preparing serval material adjustments to present the financial position and activities of the Organization in accordance witgh GAAP. Ringold proposed prior period and current yeat adjustements to correct eroors identified with cash, receivable, fixed assets, accured expenses, deferred revenue and Leases

Categories

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Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
93.045 Special Programs for the Aging, Title Iii, Part C, Nutrition Services $442,975
21.027 Coronavirus State and Local Fiscal Recovery Funds $77,903
10.557 Wic Special Supplemental Nutrition Program for Women, Infants, and Children $52,142
93.044 Special Programs for the Aging, Title Iii, Part B, Grants for Supportive Services and Senior Centers $50,672
93.497 Family Violence Prevention and Services/ Sexual Assault/rape Crisis Services and Supports $37,125
10.561 State Administrative Matching Grants for the Supplemental Nutrition Assistance Program $25,156
93.496 Family Violence Prevention and Services/culturally Specific Domestic Violence and Sexual Violence Services $21,745
16.575 Crime Victim Assistance $21,442
93.671 Family Violence Prevention and Services/domestic Violence Shelter and Supportive Services $20,260
93.667 Social Services Block Grant $20,000
93.071 Medicare Enrollment Assistance Program $3,731