Finding Text
Condition: Many of the Organizations' general ledger accounts were not in balance with
supporting details and were not reconciled throughout the year on a monthly basis.
Criteria: Financial Statement accounts should be reconciled on a monthly basis to ensure
proper financial reports.
Cause: Employee turnover throughout the year made it difficult for the financial statements
to be kept up every month.
Effect: The financial statements looked at every month are not accurate and this could be
misleading.
Recommendation: We recommend that all financial statement accounts be reconciled on a
timely basis so that all financial reports being reviewed are accurate.
Response: Financial statements will be reconciled on a monthly basis and reviewed by the
board. Adjustments that need to be made will be made in a timely manner to ensure the
continued integrity of the financial statements.