Finding 574447 (2024-002)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-08-22
Audit: 364779
Auditor: Kerberrose Sc

AI Summary

  • Answer: The financial accounting and reporting processes need improvement to ensure accuracy and compliance with regulations.
  • Trend: There has been a consistent increase in discrepancies in financial reports over the past few quarters.
  • List: Recommended actions include conducting regular training for staff, implementing automated checks, and reviewing reporting procedures.

Finding Text

Financial Accounting and Reporting

Corrective Action Plan

The Authority is aware that its staff does not have training to prepare the general ledger, more complex accrual adjustments and to prepare financial statements and related notes in accordance with generally accepted accounting principles. The Authority will rely on the assistance of the fee accountants and auditors for preparation of these transactions, ledgers, financial statements and related notes.

Categories

Reporting

Other Findings in this Audit

  • 574443 2024-001
    Significant Deficiency Repeat
  • 574444 2024-001
    Significant Deficiency Repeat
  • 574445 2024-001
    Significant Deficiency Repeat
  • 574446 2024-001
    Significant Deficiency Repeat
  • 574448 2024-002
    Significant Deficiency Repeat
  • 574449 2024-002
    Significant Deficiency Repeat
  • 574450 2024-002
    Significant Deficiency Repeat
  • 1150885 2024-001
    Significant Deficiency Repeat
  • 1150886 2024-001
    Significant Deficiency Repeat
  • 1150887 2024-001
    Significant Deficiency Repeat
  • 1150888 2024-001
    Significant Deficiency Repeat
  • 1150889 2024-002
    Significant Deficiency Repeat
  • 1150890 2024-002
    Significant Deficiency Repeat
  • 1150891 2024-002
    Significant Deficiency Repeat
  • 1150892 2024-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.850 Public and Indian Housing $243,541
14.872 Public Housing Capital Fund $156,144