Report 12-10: SBA Generally Meets IPERA Reporting Guidance but Immediate Attention Is Needed to Prevent and Reduce Improper Payments

Date Issued: 
Thursday, March 15, 2012
Report Number: 

The objective of our audit was to determine the adequacy of SBA’s compliance with IPERA and OMB’s implementing guidance.  To achieve our audit objective, we determined whether the SBA addressed required provisions, and we performed limited testing of compliance with these provisions. We also reviewed the completeness of improper payments disclosures in the the SBA's Agency Financial Report for fiscal year (FY) 2011, and assessed the Agency’s efforts to prevent and reduce improper payments.  Our review found that the SBA was generally compliant in meeting the minimal reporting requirements for IPERA in its FY 2011 AFR.   Our qualitative review of the SBA's efforts to prevent and reduce improper payments showed that immediate management attention is needed in four of the six programs or activities subject to IPERA.