Finding 555301 (2022-002)

- Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2025-04-17

AI Summary

  • Core Issue: CMSDC failed to submit its audit and data collection form on time, violating Uniform Guidance requirements.
  • Impacted Requirements: Reports must be submitted within nine months post-audit period, or 30 days after receiving the auditor's report.
  • Recommended Follow-Up: Management should finalize the financial close and reporting process within three months after the fiscal year to ensure timely audits and submissions.

Finding Text

Finding 2022-002, Noncompliance with Uniform Guidance’s Report Submission Requirements – Repeat Finding 2021-002, 2020-001 Federal Agency: U.S. Department of Commerce Program Name: MBDA Business Center Assistance Listing #: 11.805 Questioned Costs: None Condition/Context CMSDC did not submit its audit and data collection form to the Federal Audit Clearinghouse within nine months after the end of the audit period. Criteria Uniform Guidance requires that audits must be completed and the data collection form must be submitted within the earlier of 30 calendar days after receipt of the auditor's report(s), or nine months after the end of the audit period. Cause The 2021 audit was completed in March 2024. Due to time constraints, the 2022 audit and data collection form were not submitted in the required timeline. Effect CMSDC did not comply with Uniform Guidance’s requirement for report submission. Recommendation We recommend that management completes the financial close and reporting process three months after end of the fiscal year, to allow for timely completion of audits and submissions of data collection forms. Organization’s Management Response See corrective action plan.

Corrective Action Plan

Finding 2022-002, Noncompliance with Uniform Guidance's Report 2021-002 Submission Requirements - Repeat Finding Federal Agency: U.S. Department of Commerce Program Name: MBDA Business Center Assistance Listing #: 11.805 Questioned Costs: None Corrective Action: We agree with the auditor's comments and actions stated in the recommendation. Management will complete the financial close and reporting process three months after the end of the fiscal year. Contact Person: Jose Robles Michelena, Executive Vice President Completion Date: June 30, 2024

Categories

Reporting

Other Findings in this Audit

  • 555302 2022-003
    Significant Deficiency Repeat
  • 555303 2022-004
    Significant Deficiency Repeat
  • 555304 2022-005
    -
  • 555305 2022-002
    - Repeat
  • 555306 2022-003
    Significant Deficiency Repeat
  • 555307 2022-004
    Significant Deficiency Repeat
  • 555308 2022-005
    -
  • 555309 2022-002
    - Repeat
  • 555310 2022-003
    Significant Deficiency Repeat
  • 555311 2022-004
    Significant Deficiency Repeat
  • 555312 2022-005
    -
  • 1131743 2022-002
    - Repeat
  • 1131744 2022-003
    Significant Deficiency Repeat
  • 1131745 2022-004
    Significant Deficiency Repeat
  • 1131746 2022-005
    -
  • 1131747 2022-002
    - Repeat
  • 1131748 2022-003
    Significant Deficiency Repeat
  • 1131749 2022-004
    Significant Deficiency Repeat
  • 1131750 2022-005
    -
  • 1131751 2022-002
    - Repeat
  • 1131752 2022-003
    Significant Deficiency Repeat
  • 1131753 2022-004
    Significant Deficiency Repeat
  • 1131754 2022-005
    -

Programs in Audit

ALN Program Name Expenditures
11.805 Mbda Business Center $263,102
21.027 Coronavirus State and Local Fiscal Recovery Funds $14,798