Observations
Based on a review of financial statements, the project failed to complete an audit by year's end, December 31, 2012.
The findings include:
The financial statements for year ending December 31, 2012 were reviewed on July 23-24, 2013. The project failed to complete an audit by year's end, December 31, 2012. The financial review for year ending December 31, 2012 included a letter from the accounting firm. The letter stated that they reviewed the statements of revenue and the expenses and the retained earnings for the year ending December 31, 2012. We have not audited or reviewed the accompanying financial statements, and accordingly do not express an opinion or any other form of assurances in them.
The Project/Facility Director was interviewed on July 24, 2013 and confirmed the findings.
This is a repeat citation. The facility was previously cited for noncompliance with this standard on 7/18/12, 1/10/12 and 7/12/11.
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Plan of Correction
Currently the facility has requested an exception to the financial audit standard. We are still waiting for response to our request. If we receive the exception we will maintain documents regarding the exception with our copies of our licenses, certifications and other approved exceptions for review during any type of inspection at the facility.
If we are not approved for the exception, the board of directors will be notified of the denial and informed that we are required to complete the financial audit.
We would need to have the audit completed by December 1, 2013. Thereafter, a financial audit will be scheduled to be completed no later than May 31, every year. |