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Audit Report 0-20: Review of SBA’s Financial Reporting Process

Date Issued: 
Tuesday, July 11, 2000
Report Number: 

On July 11, 2000, the OIG issued Audit Report 0-20, Review of SBA’s Financial Reporting Process.  This report contains the Independent Public Accountant or IPA’s review of the systems and processes that the SBA uses to prepare its financial statements.  The Senate Appropriations Committee directed the OIG to review the integrity of SBA’s internal financial management systems, to include an examination of its difficulties in completing annual financial statements and account balances.  This request was due to the SBA not providing its Fiscal Year 1998 financial statements to the auditors until 3 months after the yearly audit report was due.  Further, because the FY 1998 financial statements contained significant errors and omissions, the auditors did not complete audit work and issue their report until September 1999.  The IPA made two recommendations related to preparing quarterly financial statements and implementing an integrated standard general ledger.

File Attachments: 
Attachments Size
Audit 0-20 Review of SBA's Financial Reporting Process 7.11.00.pdf 1599Kb