Finding Text
2023 – 5 Reconciliations - During the course of our audit it was noted that cash, investments and
accounts payable and account receivable are not being reconciled monthly.
Criteria: Management should reconcile all accounts receivable, investments and accounts payable
accounts monthly to prevent errors from compounding.
Cause: Unknown
Effect: Unrecorded activity was noted throughout the year.
Recommendation: All cash, investments and accounts payable and receivable should be reconciled
monthly
Management Response: Management will reconcile all cash, investments and accounts payable
accounts monthly.