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The letter explains audit consideration of internal control over financial reporting for planning purposes, defines deficiency and material weakness, and reports significant deficiencies identified. It highlights audit adjustments related to proper recording of transactions under U.S. GAAP and provides recommendations to improve interim financial statement accuracy and reduce repeat comments.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/prevent-blindness-wisconsin-inc-2020-management-letter-internal-control-and-significant-audit-findings/280779/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/prevent-blindness-wisconsin-inc-2020-management-letter-internal-control-and-significant-audit-findings/280779.png","ImageObject",442,249,{"name":88,"@type":89},"Ethan Miller","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-22","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",8,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What is the purpose of the audit consideration of internal control described in the letter?","Question",{"text":109,"@type":110},"Internal control is considered as a basis for designing audit procedures appropriate to expressing an opinion on the financial statements, not for expressing an opinion on the effectiveness of internal control.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"What types of internal control issues does the letter define?",{"text":114,"@type":110},"It defines a deficiency and a material weakness, including when controls do not prevent or detect and correct misstatements in a timely basis and when there is a reasonable possibility of a material misstatement not being prevented or detected.",{"name":116,"@type":107,"acceptedAnswer":117},"What significant deficiency is reported, and what recommendation is given?",{"text":118,"@type":110},"The letter reports audit adjustments were required to avoid material misstatement, indicating controls may be inadequate for proper recording of transactions under U.S. GAAP. It recommends management review the nature of these entries to determine if similar adjustments could be made during the ordinary financial reporting process.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},280779,1790400453,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":136,"language":137,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":61,"update_tm":141,"read_time":73},687207017582,"https://ap-avatar.wpscdn.com/davatar_994ba38a5ba835b3df7d355c54d3ed8d","To the Board of Directors  \nPrevent Blindness Wisconsin, Inc.  \nMilwaukee, Wisconsin  \nIn planning and performing our audit of the financial statements of Prevent Blindness Wisconsin, Inc.(“Organization”) as of and for the year ended March 31, 2020 , in accordance with auditing standards generally accepted in the United States of America, we considered Prevent Blindness Wisconsin, Inc.’s internal control over financial reporting (“internal control”) as a basis for designing auditing procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Organization’s internal control. Accordingly, we do not express an opinion on the effectiveness of the Organization’s internal control.  \nA deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies in internal control, such that there is a reasonable possibility that a material misstatement of the Organization’s financial statements will not be prevented, or detected and corrected on a timely basis.  \nOur consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies, and therefore, material weaknesses or significant deficiencies may exist that were not identified. However, as discussed below, we identified certain deficiencies in internal control that we consider to be significant deficiencies.  \n􀀄 One or more audit adjustments were required to prevent the Organization’s financial statements from being materially misstated. This is indicative that controls may be inadequate to ensure the proper recording of all of the Organization’s financial transactions in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) . This condition represents a significant deficiency in internal controls. We recommend that management review the nature of these entries in order to determine if these types of adjustments could be made during the year as part of the ordinary financial reporting process. This would reduce the likelihood of this comment in the future and also increase the accuracy of interim financial statements.  \nWe have audited the financial statements of Prevent Blindness Wisconsin, Inc. for the year ended March 31, 2020 and have issued our report thereon dated. June 30, 2020. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you dated January 8 , 2020. Professional standards also require that we communicate to you the following information related to our audit.  \nReilly, Penner & Benton LLP  \n1233 N. Mayfair Road Suite \\#302 • Milwaukee, WI 53226-3255 • 414-271-7800  \n[www.rpb.biz](www.rpb.biz)  \nBoard of Directors  \nPrevent Blindness Wisconsin, Inc.– Page 2  \nSignificant Audit Findings  \nQualitative Aspects of Accounting Practices  \nManagement is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by Prevent Blindness Wisconsin, Inc. are described in Note 1 to the financial statements, the Organization changed accounting policies during the year related to the following adoptions:  \n􀀄 A new accounting standard was adopted in the current year for Accounting Standards Update (ASU) 2016-14, Financial Accounting Standards Board (“FASB”) Update Topic 606 – Revenue from Contracts with Customers. Accordingly, the accountin","cbCaijzfYm9fWY1t","https://ap.wps.com/l/cbCaijzfYm9fWY1t","pdf",240012,6,"English","# Internal Control Considerations\n## Definitions of Deficiency and Material Weakness\n# Significant Audit Findings\n## Significant Deficiencies and Audit Adjustments\n## Qualitative Aspects of Accounting Practices\n## Accounting Estimates\n## Financial Statement Disclosures","[{\"question\":\"What is the purpose of the audit consideration of internal control described in the letter?\",\"answer\":\"Internal control is considered as a basis for designing audit procedures appropriate to expressing an opinion on the financial statements, not for expressing an opinion on the effectiveness of internal control.\"},{\"question\":\"What types of internal control issues does the letter define?\",\"answer\":\"It defines a deficiency and a material weakness, including when controls do not prevent or detect and correct misstatements in a timely basis and when there is a reasonable possibility of a material misstatement not being prevented or detected.\"},{\"question\":\"What significant deficiency is reported, and what recommendation is given?\",\"answer\":\"The letter reports audit adjustments were required to avoid material misstatement, indicating controls may be inadequate for proper recording of transactions under U.S. GAAP. It recommends management review the nature of these entries to determine if similar adjustments could be made during the ordinary financial reporting process.\"}]","Prevent Blindness Wisconsin, Inc. 2020 Management Letter - Internal Control and Significant Audit Findings | PDF",1789556937]