Finding Text
Finding 2022-002 ? Significant Deficiency ? Reporting, AL #10.415 Condition ? It was noted during the audit that reporting to USDA Rural Development (form 3560-10) was not done within prescribed timelines. Criteria ? Internal controls over the preparation of an organization?s reporting should be designed to prevent late reporting. Context and Cause ? The reporting is tasked with a department outside of fiscal staff, without access to the necessary financial information to complete the reporting. Effect of Condition ? The events above resulted in late reporting. Recommendation ? In order for the Organization?s internal controls over the preparation of financial reporting, a calendar should be developed with a plan of action to complete the reports under dual control. Views of Responsible Officials and Planned Corrective Actions ? Management concurs with the finding and has developed a corrective action plan. We understand a significant deficiency is identified in the internal control over reporting. It does not impact the Organization?s ability to manage federal funds. Regardless, we place the utmost importance on the summary of auditors? results and will work to increase the strength of our internal controls over financial reporting.