FAC Explorer

Finding 986258 (2022-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-09-11
Audit: 311943
Organization: Home Ownership for Personal Empowerment Inc. (CA)
Auditor: Douglas & Bhagat CPA Services INC

AI Summary

  • Core Issue: HOPE, Inc. failed to submit the Data Collection Form (DCF) on time, leading to material noncompliance with federal guidelines.
  • Impacted Requirements: The DCF must be submitted within 30 days of receiving the auditor's report or 9 months after the fiscal year-end, whichever is sooner.
  • Recommended Follow-Up: HOPE, Inc. should ensure adequate accounting staff are hired and trained to maintain timely submissions and compliance with audit requirements.

Finding Text

?Criteria or specific requirement: Assignment of responsibility to management of HOPE, Inc. and Board of Directors that the DataCollection Form (DCF) is timely submitted to the federal Audit Clearinghouse (FAC).?Condition: Submission of the DCF with FAC is due within 30 Days of receipt of the auditors' report or 9months after year end of the fiscal year, whichever comes first.?Effect: Material noncompliance with the Uniform Guidance,therefore not considered a low-risk auditee?Cause: Insufficient accounting personnel to maintain and close books to meet submission deadline.?Recommendation: To meet required deadlines and maintain the Organization's books, HOPE, Inc. would need tohire sufficient accounting staff and that management would ensure that the books are kept upto date.?Management's response: HOPE, Inc. has hired Pacific Accounting and Business Services along with a new accountant toassist with the timing and accuracy of HOPE?s financials. We have also contracted with Jensen& Company to assist with audit preparation, training and oversight of HOPE?s financials andaccounting staff.HOPE?s new accounting team will ensure future compliance with all audit and reporting requirement

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 409801 2022-001
    Significant Deficiency Repeat
  • 409802 2022-001
    Significant Deficiency Repeat
  • 409803 2022-001
    Significant Deficiency Repeat
  • 409804 2022-001
    Significant Deficiency Repeat
  • 409805 2022-001
    Significant Deficiency Repeat
  • 409806 2022-001
    Significant Deficiency Repeat
  • 409807 2022-001
    Significant Deficiency Repeat
  • 409808 2022-001
    Significant Deficiency Repeat
  • 409809 2022-001
    Significant Deficiency Repeat
  • 409810 2022-001
    Significant Deficiency Repeat
  • 409811 2022-001
    Significant Deficiency Repeat
  • 409812 2022-001
    Significant Deficiency Repeat
  • 409813 2022-001
    Significant Deficiency Repeat
  • 409814 2022-001
    Significant Deficiency Repeat
  • 409815 2022-001
    Significant Deficiency Repeat
  • 409816 2022-001
    Significant Deficiency Repeat
  • 409817 2022-001
    Significant Deficiency Repeat
  • 409818 2022-001
    Significant Deficiency Repeat
  • 409819 2022-001
    Significant Deficiency Repeat
  • 409820 2022-001
    Significant Deficiency Repeat
  • 986243 2022-001
    Significant Deficiency Repeat
  • 986244 2022-001
    Significant Deficiency Repeat
  • 986245 2022-001
    Significant Deficiency Repeat
  • 986246 2022-001
    Significant Deficiency Repeat
  • 986247 2022-001
    Significant Deficiency Repeat
  • 986248 2022-001
    Significant Deficiency Repeat
  • 986249 2022-001
    Significant Deficiency Repeat
  • 986250 2022-001
    Significant Deficiency Repeat
  • 986251 2022-001
    Significant Deficiency Repeat
  • 986252 2022-001
    Significant Deficiency Repeat
  • 986253 2022-001
    Significant Deficiency Repeat
  • 986254 2022-001
    Significant Deficiency Repeat
  • 986255 2022-001
    Significant Deficiency Repeat
  • 986256 2022-001
    Significant Deficiency Repeat
  • 986257 2022-001
    Significant Deficiency Repeat
  • 986259 2022-001
    Significant Deficiency Repeat
  • 986260 2022-001
    Significant Deficiency Repeat
  • 986261 2022-001
    Significant Deficiency Repeat
  • 986262 2022-001
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
14.239 Home Investment Partnerships Program $287,331