The Contracting Education Academy

Contracting Academy Logo
  • Home
  • Training & Education
  • Services
  • Contact Us
You are here: Home / Archives for deficiencies

November 21, 2019 By cs

DoD’s second financial audit uncovers 1,300 new deficiencies

The results of the Pentagon’s second-ever full financial audit are a decidedly mixed bag: Although officials were able to point to some areas of significant progress in managing the Defense Department’s finances over the past year, overall, auditors are uncovering new problems faster than the department is fixing them.

At this time a year ago, auditors had made 2,410 separate findings and recommendations during the department’s first-ever financial audit. In the 2019 financial report DoD issued Friday evening, officials said 556 of those had been resolved. But besides the more than 1,800 problems the department is still wrestling with from 2018, auditors made more than 1,300 new findings during the course of the latest audit.

In addition, the audit turned up a larger number of material weaknesses this year.

Keep reading this article at: https://federalnewsnetwork.com/defense-main/2019/11/dods-second-financial-audit-uncovers-1300-new-deficiencies/

Filed Under: Government Contracting News Tagged With: audit, deficiencies, DISA, DoD, financial management, government property, Pentagon, Senate Armed Services Committee

June 19, 2019 By AMK

GSA out of compliance on improper payments, watchdog finds

Financial controls designed to minimize agency payments to undeserving parties are not being fully followed by the government’s landlord, the General Services Administration, according to a watchdog report released on Friday.

GSA in fiscal 2018 failed to comply with two of six requirements in the amended Improper Payments Act, said the agency’s inspector general. Specifically, the agency “did not publish an accurate improper payment estimate in its Fiscal Year 2018 Agency Financial Report and … [did not] publish accurate and complete improper payments data in its Fiscal Year 2018 Agency Financial Report,” said the report by the team under IG Carol Fortine Ochoa. “GSA’s risk assessment process is flawed and its procedures for the Do Not Pay initiative contain significant deficiencies and are ineffective.”

Federal law requires agencies with programs susceptible to significant improper payments to estimate and report on them annually to the Office of Management and Budget, in addition to implementing corrective actions. But if a program’s estimated and reported improper payments are below the statutory thresholds for a minimum of two consecutive years, the agency may request relief from the annual reporting requirements.

The IG reviewed GSA’s improper payments in rental of space and purchase cards in fiscal 2017 and 2018, having found $109 million in total improper payments in 2017, and then $16.7 million in 2018 in the rental of space program only. The new report’s review covered August 2018 through February 2019.

Keep reading article at: https://www.govexec.com/management/2019/06/gsa-out-compliance-improper-payments-watchdog-finds/157447

Filed Under: Government Contracting News Tagged With: agency financial report, audit, audit findings, CFO, corrective action, deficiencies, Do Not Pay initiative, GSA, IG, improper payment, Improper Payments Act, OMB, purchase card, rental of space, SAM

Popular Topics

abuse acquisition reform acquisition strategy acquisition training acquisition workforce Air Force Army AT&L bid protest budget budget cuts competition cybersecurity DAU DFARS DHS DoD DOJ FAR fraud GAO Georgia Tech GSA GSA Schedule GSA Schedules IG industrial base information technology innovation IT Justice Dept. Navy NDAA OFPP OMB OTA Pentagon procurement reform protest SBA sequestration small business spending technology VA
Contracting Academy Logo
75 Fifth Street, NW, Suite 300
Atlanta, GA 30308
info@ContractingAcademy.gatech.edu
Phone: 404-894-6109
Fax: 404-410-6885

RSS Twitter

Search this Website

Copyright © 2023 · Georgia Tech - Enterprise Innovation Institute