Advisory Memorandum Report A1-04: SBA’s Federal Agencies’ Centralized Trial Balance System (FACTS) Data
Date Issued: Thursday, March 8, 2001
Report Number: A1-04

On March 8, 2001, the OIG issued Advisory Memorandum Report A1-04, SBA’s Federal Agencies’ Centralized Trial Balance System (FACTS) Data, an agreed-upon procedures report for FACTS verification prepared by a Certified Public Accountant (CPA).  The agreed-upon procedures audit was conducted to evaluate the agency’s assertion that it compared the Summarized FACTS Data to the related information in the agency’s consolidated financial statements as of and for the year ended September 30, 2000.  The CPA noted two findings related to a difference in the reported amount of accrued Interest Payable account, and a difference in the reported amounts of an Operating Expenses/Program Costs account.