Submitting OIG:
Report Description:
For our audit of NIST’s Working Capital Fund for fiscal year ended September 30, 2019, our objective was to determine whether budgetary controls over the fund were adequate. Specifically, the audit focused on determining whether the fund was (1) recovering the full cost of reimbursable services; (2) appropriately accounting for advances and carryover balances; and (3) maintaining a reasonable fund balance, in accordance with applicable laws, regulations, and policies.
We contracted with Ollie Green & Company, CPAs, LLC, LLC (OG&C)—an independent firm—to perform this audit of NIST in accordance with Government Auditing Standards. Our office oversaw the progress of this audit; however, OG&C is solely responsible for the attached report and the conclusions expressed in it. We do not express any conclusions about the adequacy of the fund’s budgetary controls, including its recovery of the full cost of reimbursable services, accounting for advances and carryover balances, and reasonableness of the fund balance in accordance with applicable laws, regulations, and policies.
Short / Alternative Report Title:
Audit of FY 2019 NIST WCF
Date Issued:
Monday, May 3, 2021
Agency Reviewed / Investigated:
Submitting OIG-Specific Report Number:
OIG-21-024-A
Component, if applicable:
National Institute of Standards and Technology
Location(s):
Agency-Wide
Type of Report:
Audit
Questioned Costs:
$0
Funds for Better Use:
$0
Number of Recommendations:
5
View Document:
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Additional Details Link: