Common Audit Findings Quick Guide
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Unfavorable audit findings can result in more frequent reporting and monitoring, repayment of funds, loss of continuation of multi-year award, and/or termination of an award.
Below, you will find the most common findings by the US Department of Education and the SPPS procedures designed to prevent these from ocurring. For a pdf of this information in table form, click here.
Failure to follow procurement standards
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This finding can include:
- Inadequate documentation
- Missing receipts, purchase orders, invoices or canceled checks
Avoid this finding by following these SPPS processes:
Purchase Req for Supplies and Equipment
Issues with compensation
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This finding includes:
- Time and Effort charged at a higher rate than the worker’s regular salary, or in addition to employee's salary
- Time and Effort reports that are missing, incomplete or not timely
Avoid this finding by following this SPPS process:
Lack of timely audits or failure to correct problems identified in audit reports
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Avoid this finding by following these SPPS processes:
Lax inventory control
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Avoid this finding by following these SPPS processes:
Poor cash management procedures
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This finding includes:
- Excessive drawdowns
- Large available balance
Avoid this finding by following these SPPS processes:
Poor or inadequate internal controls
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Avoid this finding by following these SPPS processes:
Preventing Fraud, Waste and Abuse
Poor record-keeping
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This finding includes:
- Records not in order or not retained supported adjustments
Avoid this finding by following this SPPS processes and practices:
SPPS follows the accounting principles established by GASB
Using an incorrect indirect cost rate
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Avoid this finding by following this SPPS process:
Using federal funds for unallowable costs and activities
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Avoid this finding by following these SPPS processes:
Violation of cost principles
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Avoid this finding by following these SPPS processes:
