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Nspector General U.S. Department of Homeland Security Washington, DC 20528 Homeland Security MAR - 4 2010 Preface The Department of Homeland Security (DHS) Office of Inspector General (OIG) was established by the Homeland Security Act of 2002 (Public Law 107-296) by amendment to the Inspector General Act of1978. This is one of a series of audit, inspection, and special reports prepared as part of our oversight responsibilities to promote economy, efficiency, and effectiveness within the depart.

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The management decision must clearly state whether or not the audit finding is sustained, the reasons for the decision, and the expected auditee action to repay disallowed costs, make financial adjustments, or take other action.

Reporting Processes In addition, the report also discloses any/all significant internal control weaknesses noted during an audit. The management letter on the other hand contains no financial information.

Auditing standards require auditors to communicate in writing to management about material weaknesses and or significant deficiencies in internal controls discovered in an audit.

In contrast to an internal audit, which is carried out by the internal audit department of a company, a management audit is conducted by outside companies with specific expertise.

Management representation letter is required as part of an audit engagement and may be requested in other types of engagements such as reviews and compilations.

Management Letter means a letter prepared by the auditor which discusses findings and recommendations for improvements in internal control, that were identified during the audit and were not required to be included in the auditor's report on internal control, and other management issues.

During the annual audit process, the auditor is required to issue a letter to officers and directors regarding its internal controls. The letter is known as the “management letter.” This letter includes items of concern, found by the auditors, which probably need attention by the organization's management team.

Contents of Management Letters The management letter must include: significant weaknesses and areas for improvement identified in the current engagement. repeat issues - matters identified in previous years that management has not yet resolved satisfactorily. Repeat issues must be appropriately labelled.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232