HomeResourcesAudit Database Project Compliance RecommendationsAssets May Have Been Diverted - GAO’s “Standards for Internal Control in the Federal Government

Assets May Have Been Diverted - GAO’s “Standards for Internal Control in the Federal Government

GAO’s “Standards for Internal Control in the Federal Government” states that transactions should be recorded promptly to maintain their relevance and value to management in controlling operations and making decisions. In the context of inventory, such controls include the timely and accurate recording of the addition or removal of stock.

General Recommendations

  • Reassess and document the risk of loss in distribution arrangements for [assets] including the implementation of additional controls to ensure that the [assets] reach the intended beneficiaries.

Source: AUDIT REPORT NO. 4-654-10-001-P DECEMBER 21, 2009

The recommendations are derived from audit reports of the Office of the Inspector General. The source refers to the audit report, which is available on this site as part of the Audit Database Project: an educational tool for compliance with USAID regulations.  Please see the disclaimer of this site before using recommendations.

Tags: Asset Management and Transfer

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