AUDIT SUMMARY

 

Our audit of the Department of the Treasury (Treasury) for the fiscal year ended June 30, 2025, found:

 

• • proper recording and reporting of all transactions, in all material respects, in the Commonwealth’s accounting and reporting system, Treasury’s internal accounting and reporting systems, and supplemental information and attachments submitted to the Department of Accounts; and

 

• • one matter involving internal control and its operation requiring management’s attention, that also represents an instance of noncompliance with applicable laws and regulations that is required to be reported under Government Auditing Standards; however, we do not consider the matter to be a material weakness.

 

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

 

Additionally, our report includes one risk alert that requires the action and cooperation of Treasury management and the Virginia Information Technologies Agency (VITA) regarding risks related to access to centralized audit log information.