FAC Explorer

Finding 962961 (2023-001)

Significant Deficiency
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-03-27
Audit: 298828
Organization: St. Giles Manor, Inc. (AL)
Auditor: Browder & Associates PC

AI Summary

  • Answer: Management reported assets too high and expenses too low by about $100,000 for 2023.
  • Trend: This issue highlights ongoing accounting errors that need to be addressed to ensure accurate financial reporting.
  • List: Follow up by reviewing accounting practices and implementing stronger controls to prevent future errors.

Finding Text

Management overstated assets and understated expenses by approximately $100,000 for the year ended December 31, 2023. Accounting errors were identified as a part of the audit and management adjusted the financial statements to correct the errors.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 386519 2023-001
    Significant Deficiency
  • 386520 2023-002
    Significant Deficiency
  • 386521 2023-003
    Significant Deficiency
  • 962962 2023-002
    Significant Deficiency
  • 962963 2023-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.135 Mortgage Insurance_rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate $4.15M
14.195 Section 8 Housing Assistance Payments Program $1.37M