Finding Text
Section III - Findings and Questioned Costs-Major Federal Award Program Audit
Finding No. 2022-1
Statement of Condition
The electronic submission of the financial statements was overdue.
Criteria
The financial statements must be electronically submitted to HUD through FASSUB within 90 days of fiscal year-end.
Questioned Costs
None
Effect or potential effect
The Company is in non-compliance with specific requirements of a major federal program.
Cause
Controls are not in place to ensure that the Company records and reports financial data on time.
Recommendation
We recommend that the electronic submission be completed as soon as possible.
Reporting views of responsible officials
Auditee agrees with the auditor.
Auditor Noncompliance Code: K – Electronic submission verification