Finding Text
2022-007: DUPLICATE PAYMENTS Criteria: Grant funding should only be claimed for reimbursement of valid expenses. Condition: The Company claimed expenses on duplicate invoices entered into the accounting information system. Cause: The Company did not maintain accurate financial statements as noted in finding 2022-001. Effect: The Company overstated and overclaimed expenses. Questioned Costs: $406.27, while the amount identified is immaterial to the grant, due to lack of segregation of duties identified in finding 2022-02, there may be additional items not identified as part of testing. Perspective Information: The issue is considered to be prevalent throughout the financial statements. Repeat Findings: Not a repeat finding. Context: A total sample of forty-five (45) of four hundred and nineteen (419) items related to disbursements under the major program were selected as a part of allowable cost compliance requirement testing. Recommendation: The Company should ensure that finance staff is adequately trained as well as revising and monitoring internal controls. View of Responsible Officials and Planned Corrective Action: The Company will ensure that finance staff is adequately trained as well as revising and monitoring internal controls by engaging an outside certified public accounting firm for assistance.