FAC Explorer

Finding 58457 (2022-002)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-02-19
Audit: 54409
Organization: Iowa Oncology Research Association (IA)
Auditor: Pittman & Company LLP

AI Summary

  • Answer: Management lacks the necessary skills to prepare GAAP financial statements and the Schedule of Expenditures of Federal Awards.
  • Trend: This gap in expertise could lead to inaccuracies in financial reporting and compliance issues.
  • List: Recommend providing training for management or hiring qualified personnel to ensure accurate financial statement preparation.

Finding Text

Finding: Auditor prepares the financial statements and the Schedule of the Expenditures of Federal Awards. Condition: Management does not have suitable skills, knowledge, and experience to prepare GAAP basis financial statements and the Schedule of Expenditures of Federal Awards.

Corrective Action Plan

The preparation of the financial statements and the Schedule of Expenditures of Federal Awards will remain a finding until the cost to alleviate the finding provides a benefit to the Organization.

Categories

Reporting

Other Findings in this Audit

  • 58456 2022-001
    Significant Deficiency Repeat
  • 634898 2022-001
    Significant Deficiency Repeat
  • 634899 2022-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
93.399 Cancer Control $1.39M