FAC Explorer

Finding 969190 (2020-001)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2020
Accepted
2024-04-09
Audit: 303103
Organization: Young Scholars for Academic Dba Truevolution Inc. (CA)
Auditor: Vasquez & CO LLP

AI Summary

  • Answer: The December 31, 2020 audit was delayed due to management's slow response in providing necessary financial documents.
  • Trend: This issue highlights ongoing challenges in timely document submission, which can affect future audits.
  • List: Follow up with management to establish clearer deadlines and improve the process for providing financial information.

Finding Text

We experienced a significant delay in completing the December 31, 2020 audit of the Organization’s financial statements mainly because of management’s difficulty in providing a timely general ledger, including the supporting schedules, documents, and other required audit-related financial information.

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Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
14.241 Housing Opportunities for Persons with Aids $144,822
93.917 Hiv Care Formula Grants $98,837
93.686 Ending the Hiv Epidemic: A Plan for America — Ryan White Hiv/aids Program Parts A and B (b) $80,469
21.019 Coronavirus Relief Fund $57,977