| Text of Recommendation | CDFI Fund management should implement formal processes and procedures to understand and identify risks related to changes in financial reporting requirements and to ensure the risks are sufficiently mitigated by the design, implementation, and operating effectiveness of relevant internal controls. |
|---|---|
| Recommendation Number | 1-1 |
| Recommendation Status | Open |
| Significant Recommendation | Yes |
| Recommendation Questioned Costs | $0 |
| Recommendation Funds for Better Use | $0 |
| Submitting OIG | |
|---|---|
| Linked Report |