Delaware Unemployment Compensation Fund FY24 Special Report

… the statement of activities and cash flows. Similar to Delaware’s last ACFR, DOLUI was unable to provide detailed accounting records for the Statements of Net Position, Activities, and Cash Flows* of the DUCF, even though these financial st …

… itable. This disclaimer of opinion has been issued following more than a year of efforts by DOLUI, the Division of Accounting (DOA), and external CPA firms, closely monitored by AOA. This multi- agency effort sought to construct missing or inco …

… and external CPA firms, closely monitored by AOA. This multi- agency effort sought to construct missing or incomplete accounting records for FY23 and FY24, institutionalize internal controls, address prior audit findings, and prepare DOLUI for an …

… g efforts, as of the release of the FY24 ACFR, progress has been minimal and the work continues. In addition to the accounting work at DOLUI, the disclaimer follows the internal distribution of a forensic accounting report contracted by the Dep …

… tinues. In addition to the accounting work at DOLUI, the disclaimer follows the internal distribution of a forensic accounting report contracted by the Department of Labor, addressing a theft of funds from the DUCF in 2023. The forensic account …

… ounting report contracted by the Department of Labor, addressing a theft of funds from the DUCF in 2023. The forensic accounting report reveals extensive and detailed findings of internal control deficiencies that make DOLUI systems vulnerable. …

… line of events at DOLUI since the issuance of the FY23 ACFR on March 20, 2024, summarize the findings of the forensic accounting engagement, and present our recommendations. The AOA expresses its gratitude to Secretary Karryl Hubbard and the D …

… n in the ACFR, DOLUI works with DOA to compile a trial balance* in accordance with United States Generally Accepted Accounting Principles*. CLA, the independent contractor hired to complete the audit of the ACFR, issued findings* on the finan …