2019 Draft Report - DVI

… completion date for corrective action plan: February 1, 201627 Business Enterprise Program Audit Completed by Cover & Rossiter: Cover & Rossiter 28 conducted an audit of “agreed upon procedures” in 2018 of DVI’s Business Enterprise Program …

… corrective action plan: February 1, 201627 Business Enterprise Program Audit Completed by Cover & Rossiter: Cover & Rossiter 28 conducted an audit of “agreed upon procedures” in 2018 of DVI’s Business Enterprise Program (“BEP”). BEP’s goal …

… ecordkeeping, profit and loss reports, an d bank accounts. The conclusions and recommendations are as follows:  Cover & Rossiter was unable to cross reconcile DVI’s sample selection of Gross Revenue, Merchandise and Payroll expense from the semi …

… nue, Merchandise and Payroll expense from the semi -monthly Profit and Loss statements to the Annual Statement.  Cover & Rossiter was unable to reconcile the bank statements t o the cash on hand as reported on the Annual Report. The cash reported …

… 678.34. We are unable to ascertain why the variance exists.  Excel is not suitable as the primary accounting system. Cover & Rossiter recommends the State shift recordkeeping to the State’s accounting system. If this is not an option then a stand-alon …

… clude in their responses to the JLOSC questionnaire if corrective action was put in place following the audit. 28 Cover & Rossiter is an independent certified public accountant firm located in Wilmington, Delaware. JLOSC Draft Report – Division for …

… te acknowledges that the overpayment exists and will make arrangements to refund the money back to the BEP owner.  Cover & Rossiter noted that the State sends invoices to BEP owners on an inconsistent basis. This is a contributing factor as to why a …

… to BEP owners on an inconsistent basis. This is a contributing factor as to why an owner over-paid their set-a-side. Cover & Rossiter suggested that, when the BEP owner sends in their profit and loss statements , they send a check at that time, inst …