(Des Moines, Iowa) – Auditor of State Rob Sand today (Wednesday) released an Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters on the State of Iowa for the year ended June 30, 2022. The State of Iowa previously released its annual financial report for the year ended June 30, 2022.

AUDIT FINDINGS:
Sand reported twelve findings related to the receipt and disbursement of taxpayer funds of the State of Iowa. The findings address issues such as inaccurate financial information for the GAAP package related to Unemployment Insurance and material amounts of cash, accounts receivable, federal commodities, unearned revenues, compensated absences, revenues, expenditures and various related footnote disclosures for financial reporting. Sand provided the State with recommendations to address each of these findings.

Nine of the findings mentioned are repeated from the prior year. Each Department head has a fiduciary responsibility to provide oversight of their Department’s operations and financial transactions. Oversight is typically defined as the “watchful and responsible” care one exercises in their fiduciary capacity.

A copy of the audit report is available for review on the Auditor of State’s website at Audit Reports – Auditor of State.