Audit Finding definition

Audit Finding means deficiencies the auditor is required, by UR section 200.516(a), to report in the schedule of findings and questioned costs.

Audit Finding means a significant issue or deficiency identified during the audit.

Audit Finding means each way in which an Auditor (or Defendant, for an internal audit), conducting an Audit pursuant to SectionV.B of this Consent Decree, determined that any document, record, report, diagram, test, system, review, evaluation, policy, practice, plan, training, procedure, personnel, equipment, or other item, action or omission at a Facility deviates from, or does not comply or conform with a requirement or standard set forth in Appendix A, Paragraphs 5.c and 6.c.

Examples of Audit Finding in a sentence

• Recommend the Board of Education accept the 2021-2022 Annual Comprehensive Financial Report for the Year Ended June 30, 2022, as prepared by Cannone and Company, CPAs with the following findings and corrective action plan attached and to authorize the Business Administrator/Secretary to the Board to submit the minutes, audit synopsis and corrective action plan to the County Superintendent as per the recommendation of the Superintendent: Findings and Corrective Action Plans: None.

• Audit finding Paragraph 5.2 of the Framework for Managing Programme Performance Information requires auditees to have appropriate system to collect, collate, verify and store performance information to ensure valid, accurate and complete reporting of actual achievements against planned objectives, indicators and targets.

• Applicants with outstanding legal, technical, or financial compliance issues from an FTA compliance review or FTA grant-related Single Audit finding must explain how corrective actions taken will mitigate negative impacts on the proposed project.

• Audit finding means the deficiencies that the auditor is required to report in the schedule of findings and questioned costs as required by 2 CFR§ 200.516(a).

• Applicants with outstanding legal, technical or financial compliance issues from an FTA compliance review or Federal Transit grant-related Single Audit finding must explain how corrective actions taken will mitigate negative impacts on the proposed project.

More Definitions of Audit Finding

Audit Finding means the items identified and reported resulting from a process that evaluates audit evidence and compares it against audit criteria.

Audit Finding has the meaning provided in Section 8.2.

Audit Finding means each way in which any document, record, report, diagram, test, system, review, evaluation, policy, practice, plan, training, procedure, personnel, equipment, or other item, action or omission at a Facility deviates from, or does not comply or conform with Section V (Compliance Requirements) and with Appendices A, B, and C of this Consent Decree.

Audit Finding means deficiencies which the contractor is required to report in accordance with applicable audit standards.

Audit Finding means deficiencies which the auditor is required by sec. .510(a) to report in the schedule of findings and questioned costs.

Audit Finding or "finding" means the specific conclusions contained in the final document written by the audit division or hearing office and presented to the taxpayer upon completion of an audit or an informal conference conducted to review an audit. "Audit finding" or "finding" also includes findings memorialized in the final document written by the audit division pursuant to the procedures established under subdivision (b)(3). "Audit finding" or "finding" does not include the issuance of a license, certificate, or application approval;

Audit Finding means a written explanation of errors, noncompliance with legal requirements, use of funds for improper purposes, weakness; deficiencies, adverse conditions, or the need for improvement or changes.