Core Issue: The Fayetteville Housing Authority couldn't find receipts for credit card purchases, impacting audit accuracy.
Impacted Requirements: Missing documentation prevents verification of financial statement amounts.
Recommended Follow-Up: Management should prioritize better record-keeping to ensure all receipts are secured and accounted for.
Finding Text
2020-012 Missing Documentation - Receipts for Credit Card Purchases
Criteria:
Requested information should be readily available for audit examination.
Condition:
The Fayetteville Housing Authority was unable to locate some receipts to credit card purchases for audit examination.
Questioned Costs:
Undetermined due to missing documentation.
Effect:
We are unable to determine the accuracy of the financial statement amounts due to lack of supporting documentation.
Cause:
The Fayetteville Housing Authority did not secure all the required receipts for supporting documentation.
Recommendation:
We recommend the Fayetteville Housing Authority’s management place a greater emphasis in safe keeping its records to ensure all receipts for every transaction is accounted for.