Answer: Management acknowledges the noncompliance issue.
Trend: There is a commitment to address and resolve this requirement moving forward.
List: Follow up to ensure compliance measures are implemented and monitored.
Finding Text
Management is aware of the noncompliance and will ensure that this requirement is met in future.
Corrective Action Plan
Management will implement measures to ensure thst financial statements are completed as expeditiously as possibe to enable the Single Audit to be completed in the required time frame