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APPENDIX B
USTDA’s Response to Finding
A. Ineffective Controls over Management’s Review of Accounts Payable
USTDA management takes the concerns raised by the auditors very seriously and will ensure that effective controls over management’s review of accounts payable are in place. Early in FY 2020, USTDA experienced an unexpected, and significant, staffing shortage within the Financial Department. USTDA management worked diligently throughout the fiscal year to fill those vacant positions, and as of October 2020 has achieved 100% staffing across the Finance Department. As the new employees complete their onboarding and integration into Agency financial operations, the Director of Finance will facilitate proper operation of the accounts payable controls and provide more thorough quarterly reconciliations, look back analysis, and second level reviews.
B. Ineffective Controls over Management’s Review of Financial Statements
USTDA management will ensure that effective controls over management’s review of the financial statements are in place. USTDA management worked diligently throughout the fiscal year to fill vacant positions within the Finance Department, and as of October 2020 has achieved 100% staffing. As the new employees complete their onboarding and integration into Agency financial operations, the Director of
Finance will facilitate more thorough reconciliations and second level reviews.
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