Finding Text
Finding 2023-001: Late Issuance of 2023 Single Audit Package
Federal programs: All Assistance Listing Numbers and federal agencies included on the schedule of expenditures of federal awards for the year ended December 31, 2023.
Type of Finding: Significant Deficiency in Internal Control over Compliance; Other Matter Compliance Finding
Criteria: OMB’s Uniform Guidance, Title 2, Part 200, Subpart F Audit Requirements, paragraph .512 requires the Single Audit to be completed and the data collection form and reporting package to 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.
Condition: The submission of the 2023 Single Audit reporting package was not submitted by the September 30, 2024, deadline.
Cause: The audit was not completed by September 30, 2024, due to delays in audit fieldwork caused by availability of supporting information to complete certain sections of the audit.
Effect: Management did not meet the Single Audit reporting deadline.
Questioned costs: None
Context: The December 31, 2023, Single Audit package.
Repeat finding: No
Recommendation: We recommend the Credit Union continue its efforts to ensure the reporting package is filed timely with the Federal Clearinghouse.
Views of responsible individuals: Management agrees with the above finding and its response is included in the corrective action plan.