Audit "Other" Reconciliation Mismatch

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Audit "Other" Reconciliation Mismatch


Post by atticusewig »

Has anyone experienced a mismatch/difference in the
reconciliation of the "Other" account step of the audit ?

I have a ward who had one during the audit, and will be
going to examine their finances, but am wondering what
I should be looking for. I thought CUBS was supposed to
do away with these types of problems.
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Re: Audit "Other" Reconciliation Mismatch


Post by aebrown »

Here are some possible sources of mismatches:
  • The Income/Expense report used for this audit step did not specify the correct date range (it should definitely end on June 30 for the midyear audit, so I always choose January 1-June 30)
  • A number was transcribed incorrectly, either from the Inc/Exp report or from the Unit Financial Statement
  • There was an outstanding item of some sort (e.g., a deposit made on June 30)
Yes, CUBS should reduce these problems, but there's still human effort involved in doing this reconciliation, so there is room for error.
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