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.
Report File
Date Issued
Submitting OIG
Department of Commerce OIG
Other Participating OIGs
Department of Commerce OIG
Agencies Reviewed/Investigated
Department of Commerce
Components
National Institute of Standards and Technology
Report Number
OIG-21-024-A
Report Description
Report Type
Audit
Agency Wide
Yes
Number of Recommendations
5
Questioned Costs
$0
Funds for Better Use
$0