I think I would have a hard time with the deposits being held a long time, that seems to be an accident waiting to happen and is often how things get boggled down. We get our momey in the bank asap, if it is a evening event by noon the next day that money is out of our hands and in the bank.
One receipt missing? I am sure we have all done that at one point, you shove it in your purse and it is gone. If it was for a check the check would say who it was written to, now if it was written for a sizeable amount I would be concerned, if it was a little amount to something like a company that you do fundraising with then you would know it was a legimate receipt.
I think your group should be seeing monthly financial reports, the ledger not being updated is a huge issue that I see. Make sure your group has that access to those records monthly...

Unless large amounts of money are missing, bite your lip and lrt it go. Out last P.T.O treasurer made several negative comments about the previous treasurers accounting practices in public, althoughh, every thing was accounted for. After this treasurers tenure, an audit showed very large budget overruns, payments with no accompanying reciepts and unaccounted deposits. For those of us around a while it would have been very easy to dredge up old ills, we thought better of it.
Just be careful where you lay criticism it may end up at your feet

Our audit whcih was due at the end of last school year was finally done. However in my opinion it is missing a few details. EX- missing deposit slip, no receipt, deposits held too long, ledger not updated regularly. The audit we got was very sketchy. Maybe I'm being anal but I think anything and everything that is wrong should be recorded. Being a past Officer who resigned I KNOW what should have been included. Am I being picky? Should I mention the missing info or just let it go? I don't get along with the new Pres. and feel she will prob. start a war if I say something but then again she should have picked up on all this- most of it was recorded on a monthly basis by the prev. Pres. so its not like the auditor (a parent) should have missed it.