Report on Quality Control Review of Grant Thornton, LLP FY 2009 Single Audit of Concurrent Technologies Corporation

Abstract

As the cognizant federal agency for Concurrent Technologies Corporation (Concurrent Technologies), we performed a review of the Grant Thornton, LLP single audit and supporting working papers for fiscal year ended June 30, 2009. The purpose of our review was to determine whether the audit was conducted in accordance with auditing standards and the auditing and reporting requirements of Office of Management and Budget Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations," (Circular A-133). Concurrent Technologies is an independent, nonprofit, applied scientific research and development professional services organization headquartered in Johnston, Pennsylvania. Concurrent Technologies expended $229.5 million in federal awards for the fiscal year ended June 30, 2009 under one federal program, the research and development cluster. Of the $229.5 million, $207.4 million was expended for Department of Defense programs. Concurrent Technologies generally met Circular A-133 reporting requirements except that the Schedule of Expenditures of Federal Awards included, but did not discretely identify, awards which are not subject to Circular A-133 audit requirements (Finding A). Grant Thornton generally met auditing standards and Circular A-133 requirements and no additional work is required for the Concurrent Technologies FY 2009 single audit. However, we identified performance and documentation issues that need to be addressed in future audits (Findings A and B). The Audit Partner, Grant Thornton, agreed to take the recommended actions. Management comments were responsive and conform to requirements; no additional comments are needed. Management comments are included in their entirety at the end of this report.

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Document Details

Document Type
Technical Report
Publication Date
Dec 05, 2011
Accession Number
ADA555637

Entities

People

  • Carolyn R. Davis
  • Randolph R. Stone

Organizations

  • United States Department of Defense

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Auditing
  • Business Administration
  • Contracts
  • Corporations
  • Cost Reimbursement Contracts
  • Deficiencies
  • Department Of Defense
  • Financial Management
  • Fixed Price Contracts
  • Governments
  • Local Governments
  • Management Personnel
  • Organizational Structure
  • Procurement
  • Quality Control
  • Sampling
  • Standards

Fields of Study

  • Business

Readers

  • Defense Financial Management and Audit.
  • Defense Technology Research and Development.