Reports


Virginia Alcoholic Beverage Control Authority for the year ended June 30, 2024

Applicable Fiscal Year: 2024

Report Category: Internal Control and Compliance

Secretariat: Public Safety and Homeland Security

Organization: Virginia Alcoholic Beverage Control Authority

Summary

AUDIT SUMMARY

 

We have audited the basic financial statements of the Virginia Alcoholic Beverage Control Authority (Authority) as of and for the year ended June 30, 2024, and issued our report thereon, dated December 7, 2024.  Our report, included in the Authority’s Annual Report, is available at the Auditor of Public Accounts’ website at www.apa.virginia.gov and at the Authority’s website at www.abc.virginia.gov.  Our audit found:

 

·         the financial statements are presented fairly, in all material respects;

 

·         five internal control findings requiring management’s attention; however, we do not consider them to be material weaknesses;

 

·         four instances of noncompliance or other matters required to be reported under Government Auditing Standards; and

 

·         corrective action on prior audit findings remains ongoing as indicated in the Findings Summary included in the Appendix.

           

In the section titled “Internal Control and Compliance Findings and Recommendations” we have included our assessment of the conditions and causes resulting in the internal control and compliance findings identified through our audits as well as recommendations for addressing those findings.  Our assessment does not remove management’s responsibility to perform a thorough assessment of the conditions and causes of the findings and develop and appropriately implement adequate corrective actions to resolve the findings as required by the Department of Accounts in Section 10205 – Agency Response to APA Audit of the Commonwealth Accounting Policies and Procedures Manual.  Those corrective actions may include additional items beyond our recommendations.