Finding Text
Type of Finding: Significant Deficiency in Internal Control over Financial Reporting. Condition: There is minimal segregation of duties among personnel involved in the accounting function. Criteria or Specific Requirement: A proper segregation of duties is an important component of a system of strong internal controls and should be implemented if possible. Cause: There are a small number of personnel to whom to allocate responsibilities in accounting functions. Effect: A lack of segregation of duties increase the risk that errors may occur and not be prevented or detected on a timely basis. Repeat Finding: Yes, Prior finding 2021-002.