Exclusive Content:

Vietnam Utilizes AI to Revolutionize Accounting Methods

The Rise of Artificial Intelligence in Vietnamese Accounting...

The Impact of Technology on Internal Audit

The Changing Role of Internal Audit Functions: Adapting...

Creating a Family Financial Plan: A Step-by-Step Guide

Creating a Family Financial Plan: Key Takeaways and...

$3 million in OC taxpayer dollars allocated for senior meals during pandemic missing accounting details


LAist Investigation: Nonprofit Misses Deadline to Account for $3 Million in Taxpayer Dollars

Nonprofit Misses Deadline to Account for $3 Million in Taxpayer Dollars

A nonprofit organization at the center of an investigation involving Orange County Supervisor Andrew Do has failed to meet another deadline to provide an account of over $3 million in taxpayer funds allocated by Do to feed needy seniors during the pandemic. The Viet America Society has come under scrutiny following reports that Supervisor Do’s then-22-year-old daughter was listed as a top leader in the organization, a fact that was not publicly disclosed by Do.

The nonprofit was required to submit audits to the county confirming the appropriate use of the funds and the accuracy of financial records. However, the first audit was due two years ago and has yet to be submitted. County officials have been requesting the audit from the nonprofit for the past year, with a warning issued in February that failure to provide the necessary documentation could result in the repayment of millions to the county.

Despite an extension of the audit deadline to June 30, the audit has still not been submitted as of Wednesday. The nonprofit’s lawyer, Sterling Scott Winchell, stated that the audit is in progress and will be completed in the coming days. He explained that the organization had to create documents to demonstrate the use of the funds and obtain invoices from vendors.

Supervisor Do directed over $13 million in county funding to the Viet America Society without disclosing his family connection to the organization. The nonprofit hired an accounting firm to conduct the audit, which identified significant risks of inaccurate information in the organization’s records. Additionally, questions have been raised about the handling of funds paid to subcontractors and a six-figure “donation” of taxpayer funds from another nonprofit to Viet America Society.

The county is now considering its next steps in response to the noncompliance of the nonprofits involved. The investigation has prompted legislative action to address loopholes in the law regarding the financial benefit of adult children or close relatives of elected officials.

Latest

Vietnam Utilizes AI to Revolutionize Accounting Methods

The Rise of Artificial Intelligence in Vietnamese Accounting...

The Impact of Technology on Internal Audit

The Changing Role of Internal Audit Functions: Adapting...

Creating a Family Financial Plan: A Step-by-Step Guide

Creating a Family Financial Plan: Key Takeaways and...

Newsletter

Don't miss

HKA expands forensic accounting and commercial damages practice with three new experts

HKA Welcomes Three Experts to Forensic Accounting and...

Delta Air Lines CEO Challenges the Economic Tactics of Budget Airlines

Delta Air Lines CEO Critiques Low-Cost Carriers Amid...

Vietnam Utilizes AI to Revolutionize Accounting Methods

The Rise of Artificial Intelligence in Vietnamese Accounting Practices: A Look at FPT and ACCA's Perspectives Vietnamese corporations and companies are embracing Artificial Intelligence...

CPA states that practitioners are caught off guard by...

Discussion on Tax Practitioners Board breach reporting obligations Tax Practitioners Board chair Peter de Cure has announced that new breach reporting obligations will soon...

ISSB publishes a jurisdictional guide for sustainability standards

International Sustainability Standards Board and IFRS Foundation Release Inaugural Jurisdictional Guide for Adoption of Sustainability Reporting Standards The International Sustainability Standards Board (ISSB) and...