FYE 6.30.24: Audit Update – CliftonLarsonAllen

CLA is in the preliminary stages of the 2024 financial statement and single audit. As of 7/23/2025, the following auditing procedures have been performed:

Selected major federal programs that require a compliance audit.

Made sample selections for the student financial assistance cluster. Testing has started for support received from the University.

Pre-engagement activities such as signing the statement of work, preparing our planning audit program and procedures, updating our annual client acceptance documents.

• Sent management accounts and balances for preparation of confirmation requests (cash, debt, investments).
• Held weekly status meetings to understand where the University is with its closing process.
• Update our understanding of the University documentation.
• Preliminary risk assessment prepared.
• Made a preliminary sample and performed testing of general disbursements.
• Updates made to our internal control documentation where information was available.
• Sample selected for non-standard journal entry testing.
• Substantive testing has not begun and will commence once management informs CLA that sections are ready to be audited.

Made a sample selection of credit card statements and individuals to test.

• OPEB and pension samples made and CLA performing the testing over the support provided by management.