Answer: The financial statements for the year ended March 31, 2024, were submitted late.
Trend: This delay indicates a potential pattern of non-compliance with submission timelines.
List: Follow up by ensuring timely submission of future financial statements and reviewing processes to prevent recurrence.
Finding Text
The Organization’s audited financial statements for the year-ended March 31, 2024, were not submitted to RD within 90-days after year-end.
Corrective Action Plan
Management will ensure the appropriate audit documentation is provided to the auditors so the audited financial statements can be completed and submitted to RD in a timely manner.