Finding Text
Finding 2022-001 – Late Filing of the Single Audit
Federal Assistance Listing Number Name of Federal Program
10.555 Lunch Program
10.553 Breakfast Program
10.565 Commodities Program
10.558 Child and Adult Care Food Program
59.008 Disaster Assistance Loan
Criteria or Specific Requirement
The audit package and the data collection form shall be submitted 30 days after receipt of the auditors’ report, or 9 months after the end of the fiscal year, which would be April 30, 2023 for the July 31, 2022 audit.
Condition
The Yeshiva did not submit the audit package and data collection form by the due date.
Questioned Costs
None
Context
The audit package and the data collection form were submitted after the April 30, 2023 deadline.
Cause
The financial statement audit was not completed timely due to management being unable to provide analyses to the auditors on a timely basis.
Effect
As a result of the delay in the financial statement audit, the submission of the audit package and the data collection form was delayed.
Identification of a Repeat Finding
No
Recommendation
We recommend that management train staff in the Finance Department to improve the timeliness of the completion of audit analyses. In addition, the Finance Department should implement a comprehensive financial statement close checklist to ensure the timely closing of the financial statements.
Views of Responsible Officials
See Corrective Action Plan