Answer: The Corporation failed to provide necessary audit evidence on time, impacting the audit completion.
Trend: This delay indicates a recurring issue with timely documentation and approval processes.
List: Follow up by ensuring all required evidence is submitted promptly and establish a review timeline for approvals.
Finding Text
The Corporation did not provide audit evidence in a matter timely enough to complete the audit prior to the filing deadline. Further the Corporation did not review and approve the audit to be finalized.
Corrective Action Plan
Management will request the bank statements to record cash activity.