Text of Recommendation | In accordance with generally accepted accounting principles (GAAP), ask the Commission’s General Counsel to identify loss contingencies relating to legal matters that should be recorded in the agency’s general ledger and/or disclosed in the notes to the financial statements and instruct the service provider to record these entries and/or disclose these amounts, as appropriate (Repeat finding from 2019 Financial Statement Audit). |
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Recommendation Number | CFO-2020-04 |
Recommendation Status | Closed |
Significant Recommendation | No |
Additional Information | The IPA firm closed the recommendation during the FY2023 Financial Statement audit process. |
Submitting OIG | |
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Report Title | FY2020 Financial Statement Audit |
Report Date Issued | Tuesday, November 17, 2020 |
Report Agency Reviewed / Investigated | |
Report Questioned Costs | $0 |
Report Funds for Better Use | $0 |