Illinois Auditor General Issues Report on Department of Central Management Services -Local Government Health Insurance Reserve Fund-Financial Audit
INTRODUCTION
This digest covers our financial audit of the Local
SYNOPSIS
* (17-1) The Department's year-end financial reporting to the
FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS
WEAKNESSES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
The Department's year-end financial reporting in accordance with generally accepted accounting principles (GAAP) to the
During the audit of the
* The Department understated accrued liabilities in the Local
* The Department overstated accounts receivable in the Local
We recommended the Department implement procedures and cross-training measures throughout the Department to ensure required financial information is submitted to those responsible for financial reporting in a timely, accurate and complete manner. This should include allocating sufficient staff resources and the implementation of formal procedures to ensure adequate and reliable financial information is prepared and submitted to the
The Department agreed with the finding and stated they will strive to implement cross- training measures and financial reporting procedures to ensure timeliness, accuracy, reliability and reasonableness of data utilized to perform financial reporting. Additionally, the Department stated they will continue to work diligently to fill key positions to ensure an independent, internal analytical review of calculations is documented and completed timely.
AUDITOR'S OPINION
The auditors stated the financial statements of the
This financial audit was conducted by
Division Director
This report is transmitted in accordance with Section 3-14 of the Illinois State Auditing Act.
Auditor General
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