FAC Explorer

Finding 530195 (2023-001)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2025-03-25
Audit: 348300
Organization: Kula No Na Po`e Hawai`i (HI)
Auditor: Jay Miyaki CPA LLC

AI Summary

  • Core Issue: Financial statements were materially misstated due to unrecorded adjustments.
  • Impacted Requirements: Adjustments to assets, liabilities, net assets, revenues, and expenses were not made prior to the audit.
  • Recommended Follow-Up: Ensure timely identification and recording of necessary adjustments in future financial statements.

Finding Text

During the course of the audit, we proposed journal entries to record or adjust certain accounts. The material adjustments proposed included adjustments to assets, liabilities, net assets, revenues, and expenses. The Organization did not identify and make the necessary adjustments to the financial statements before the audit began, thus the financial statements were materially misstated.

Categories

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Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.215 Fund for the Improvement of Education $592,550
93.310 Trans-Nih Research Support $301,766
93.612 Native American Programs $280,289
93.931 Cdc Health Equity Fund $275,315
93.932 Native Hawaiian Health Care Systems $259,264
93.361 Nursing Research $29,221
84.362 Native Hawaiian Education $28,405
93.866 Aging Research $20,414
93.696 Certified Community Behavioral Health Clinic Expansion Grants $7,624