Engagement Memo—Audit of Lost and Found Program

December 15, 2020 |  Engagement Memos

Investigations recently identified fraudulent activity in the company’s lost and found program, along with potential management and control weaknesses that may have allowed this behavior to occur. Our objective is to assess the company’s processes and policies for managing its lost and found program to determine the extent to which the company safeguards lost items and returns them to customers in a timely manner. We may modify our scope or objective during the audit. Throughout our audit, we plan to interview company officials responsible for managing the lost and found program, analyze relevant documents and data, and assess policies.

 

As we start this audit, we are acutely aware of and sensitive to the impact that the COVID-19 pandemic has had on the company’s business operations and its employees. We will work to minimize disruptions to the company by conducting our outreach as efficiently as possible and coordinating meetings with staff in advance. Given the current operating environment, we also leave it to your discretion to determine who you would like to participate in an entrance conference to minimize disruptions to the executive leadership team and expedite our information gathering and request for company interviews and documents. Throughout our audit, we will keep you advised of the status of our work and any material changes in our objective, should they occur.

Tracking Number

003-2021