Text of Recommendation | We recommend that Coast Guard improve and reinforce existing policies, procedures, and related internal controls to ensure that: a) management adequately researches, supports, and reviews all journal entries and adjusting entries prior to recording in the general ledger; b) management records approved on top adjustment entries in the correct underlying general ledger systems in order to generate accurate beginning balances; c) personnel record transactions to the accurate trading partner upon initiation; reconcile all intragovernmental balances with trading partners; and resolve differences in a timely manner; and d) management enhances documentation of their actuarial liability estimate reviews and refines their review of the actuarial liabilities report, underlying data, and assumptions to include precise reconciliations and thresholds.
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Recommendation Number | 4 |
Recommendation Status | Open |
Significant Recommendation | No |
Submitting OIG | |
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Linked Report |