Finding Text
2022-003: NON-COMPLIANCE WITH AUDITEE RESPONSIBILITIES RELATED TO REPORTING REQUIREMENTS UNDER UNIFORM GUIDANCE Criteria: Under the requirements of Uniform Guidance, it is the auditee?s responsibility to ensure the audit is properly performed and submitted when due. The audit shall be completed and the data collection form and reporting package submitted within the earlier of 30 days after receipt of the auditor?s report or nine months after the end of the audit period. Condition: COCAA did not meet the time constraints for submitting the audit for the fiscal year ending March 31, 2022. Obtaining complete and timely financial statements was problematic and numerous audit adjustments were suggested and accepted by management to ensure the financial statements accurately reflected the organization?s overall financial position and results of operations. These factors contributed to significant delays in the ability to finalize year-end financial statements. Cause/Effect: COCAA is out of compliance with the reporting deadline for the audit. Recommendation: Saunders & Associates, PLLC recommends COCAA ensure fiscal processes are enhanced to ensure management receives current and accurate financial information on a timely basis which will allow for the audit process to be completed in a much less time-consuming and arduous process. Reply: See corrective action plan.