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External auditor issues unmodified opinion but finds repeated material weaknesses and control deficiencies in FY24 audit
Summary
Katie Farris, audit director at Crossland PLLC, told the Hospital Authority Finance Committee that Crossland issued an unmodified opinion on the fiscal year 2024 financial statements but reported two material weaknesses and two significant deficiencies in internal control, primarily related to the month-end close and reconciliation process.
Katie Farris, audit director at Crossland PLLC, told the Hospital Authority Finance Committee that Crossland issued an unmodified opinion on the fiscal year 2024 financial statements but reported internal control problems that the firm classifies as two material weaknesses and two significant deficiencies.
"We do not express an opinion on the effectiveness of the internal control," Farris said, "but we are required to disclose any findings that we might find in the course of performing our audit." She said the most important finding concerns the financial close and reporting process, including limited month-end reconciliation and weak review processes for third-party schedules from vendors such as Parallon and CareCloud.
Farris said audit…
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