Monitoring APA Reports - Virginia Department of Accounts
Monitoring APA Reports - Virginia Department of Accounts
Monitoring APA Reports - Virginia Department of Accounts
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Statewide<strong>Monitoring</strong><strong>of</strong> <strong>APA</strong> Audit<strong>Reports</strong>Fiscal FundamentalsPhoto by Karl Steinbrenner
Audit ReportIssued by Auditor <strong>of</strong> Public <strong>Accounts</strong> (<strong>APA</strong>)includes:‣ An audit opinion‣ A management letter <strong>of</strong> findings and/ordeficiencies‣ Recommendations for improvement9/10/2008 Financial Reporting 2
Audit Findings/RecommendationsAddress weaknesses in internal controlsAddress instances <strong>of</strong> noncompliance withrules and/or regulations‣ State‣ Federal‣ Internal Policies & Procedures9/10/2008 Financial Reporting 4
Agency ResponsibilitiesDevelop a comprehensive response to any auditfindings and/or reported deficiencies.Include a Corrective Action Workplan (CAW) in theresponse.Provide written progress reports to the StateComptroller every 90 days until the findings and/ordeficiencies are corrected. Upon correction, theAgency Head must certify the correction in writingto the State Comptroller.9/10/2008 Financial Reporting 5
Audit Response ProceduresAgencies must send written response to State Comptrollerwithin 30 days after receiving final audit report.Response must include the CAW. The workplan should:‣ Summarize the audit findings (What)‣ Identify the proposed corrective actions (How)‣ Provides target dates for completion (When)‣ Names <strong>of</strong> the position or person responsible for implementingeach corrective action (Who)Transmit copies <strong>of</strong> the response to:‣ Director <strong>of</strong> <strong>Department</strong> <strong>of</strong> Planning and Budget‣ Appropriate Cabinet Secretary‣ Auditor <strong>of</strong> Public <strong>Accounts</strong>9/10/2008 Financial Reporting 6
Audit Response ProceduresDOA logs, tracks and evaluates the response.If DOA finds the response inadequate:‣ DOA will notify the agency.‣ Agency must send a revised response within 15 days.‣ Agency must send revised response to DPB Director, CabinetSecretary, and <strong>APA</strong>.Agencies must:‣ Submit status reports every 90 days on resolving comments,‣ Report the status <strong>of</strong> any outstanding questioned costs,‣ When a finding is corrected, the Agency Head must certifythe correction in writing to the State Comptroller.9/10/2008 Financial Reporting 7
DOA <strong>Monitoring</strong> Procedures‣ DOA receives copies <strong>of</strong> all <strong>APA</strong> reports‣ DOA tracks agency Responses and CAWs‣ DOA reports summaries <strong>of</strong> All Findings, RiskAlerts, and Efficiency Issues in the QuarterlyReport‣ DOA reports the Current Status <strong>of</strong> CorrectiveActions as Reported by Agencies in theQuarterly Report9/10/2008 Financial Reporting 8
Single Audit ReportContains a “Resolution <strong>of</strong> Prior Year AuditFindings” Section‣ Identifies all resolved and unresolvedfindings from all previous single auditsDOA includes agencies’ responses in theSingle Audit Report9/10/2008 Financial Reporting 9
CAPP Manual Topic‣10205, Agency Response to <strong>APA</strong> AuditCode Reference‣Code <strong>of</strong> <strong>Virginia</strong> Section 2.2-5004.B. – C.,Financial and Administrative ManagementStandards for Public Institutions <strong>of</strong> HigherEducationReferences9/10/2008 Financial Reporting 10
Contactsfinrept@doa.virginia.gov804-225-2257 – voice804-225-2430 – facsimileU. S. Mail:Financial Reporting<strong>Virginia</strong> <strong>Department</strong> <strong>of</strong> <strong>Accounts</strong>P. O. Box 1971Richmond, VA 23218-19719/10/2008 Financial Reporting 11