Finding 547916 (2024-001)

Condition: A material audit adjustments was required to present the financial statements in accordance with accounting principles generally accepted in the United States of America. Criteria: An effective system of intenal controls allows management or employees or outsourced consultants, in the normal course of performing their assigned functions, to prevent, detect and correct misstatements on a timely basis. Effect: A significant adjustment that was material in relation to the financial statements was not detected and recorded on a timely basis. Cause: Timely reconciliation of certain general ledger accounts was not performed by management. As a result, a material adjustment was required to be made to the Organization's financial statement accounts. Recommendation: We recommend the Organization review its policies and procedures to ensure that all account balances and transactions are periodically reviewed for proper treatment in accordance with accounting principles generally accepted in the United States of America. View of Responsible Officials and Planned Corrective Actions: See management's attached corrective action plan.