EIN: 521892964
UEI: GSA_MIGRATION
Audited by: RUBINO & COMPANY, CHARTERED
Oversight agency: 43 [National Aeronautics and Space Administration]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on June 20, 2021. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by December 20, 2021 (1728 days ago).
What is a management decision? →In the process of performing our audit, we noted improper reconciliations in certain year-end balances. This could have impacted Ocean Leadership?s Federal expenditures. Cause: Year-end balances were not appropriately reconciled, and review procedures did not identify the inaccuracies. Effect: Several large adjustments were made during the audit as a result of incorrect or incomplete reconciliations. The adjustments did not impact Federal expenditures. Recommendations: We suggest that Consortium for Ocean Leadership revisit its reconciliation processes and its review procedures as part of the month end closing process. Management Response: Management with the help of the board intends to increase oversight of the monthly closing process to ensure compliance with internal finance and accounting policies and procedures.
Show full finding ▾Hide full finding ▴2020-002 ? Financial Close Program: Research and Development Criteria: Accounting tasks such as monthly reconciliations, cross-checks, and reviews play a key role in proving the accuracy of accounting data and financial information that comprise year-end financial statements. Condition: In the process of performing our audit, we noted improper reconciliations in certain year-end balances. This could have impacted Ocean Leadership?s Federal expenditures. Cause: Year-end balances were not appropriately reconciled, and review procedures did not identify the inaccuracies. Effect: Several large adjustments were made during the audit as a result of incorrect or incomplete reconciliations. The adjustments did not impact Federal expenditures. Recommendations: We suggest that Consortium for Ocean Leadership revisit its reconciliation processes and its review procedures as part of the month end closing process. Management Response: Management with the help of the board intends to increase oversight of the monthly closing process to ensure compliance with internal finance and accounting policies and procedures.
Memorandum for the Record Date: April 16, 2021 Subject: Corrective Action Plan to Address FY 2020 Audit Finding This memorandum officially documents the Corrective Action Plan (CAP) that the Consortium for Ocean Leadership (COL) will undertake in response to the ?significant deficiency? finding in the Fiscal Year 2020 (FY2020) independent audit conducted by Rubino & Company with regard to internal control as related to financial statements. Corrective Actions (with responsible individuals): ? Ensure compliance with internal finance and accounting policies and procedures at all levels throughout the organization. Resp: Rob Dunbar, Chair of Audit Committee ? Increase oversight of the monthly closing and quarterly/annual reconciliation processes. Resp: Yan Xing, VP/CFO ? Match capacity and training of finance and administrative staff to current and anticipated workloads. Resp: Yan Xing, VP/CFO ? Ensure that staff transition plans are reviewed and understood by all senior leadership team prior to implementation. Resp: Jonathan White, President/CEO
FAC accepted this audit on May 11, 2020 — management decision was due November 11, 2020.
FAC accepted this audit on April 27, 2019 — management decision was due October 27, 2019.
FAC accepted this audit on April 6, 2018 — management decision was due October 6, 2018.
GSA_MIGRATION
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GSA_MIGRATION
2016-001
FAC accepted this audit on April 19, 2017 — management decision was due October 19, 2017.
GSA_MIGRATION
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GSA_MIGRATION
Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
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