Independent Auditors’ Report on SBA’s Compliance with DATA Act Reporting

The Digital Accountability and Transparency Act of 2014 (DATA Act) requires OIG to annually audit SBA’s financial data and adherence to government financial data standards. We contracted with the independent certified public accounting firm KPMG LLP to conduct the annual audit.

KPMG found the agency’s reporting required under the DATA Act. SBA met the government-wide financial data standards, and the data submission was of higher quality than in previous years. The agency has made progress since the 2019 audit increasing the availability, accuracy, and usefulness of federal spending information.

However, SBA did not submit certain data completely, accurately, or on time. In addition, SBA needs to improve the completeness and accuracy of DATA Act reporting.