Submitting OIG:
Report Description:
As part of our annual audit plan, we audited the allocation of labor expenses in the Tennessee Valley Authority’s (TVA) Information Technology (IT) organization. Our audit objective was to determine if financial transactions for labor charged to Operations and Maintenance and Capital general ledger accounts under the IT organization during fiscal year 2018 received the proper accounting treatment.
We were unable to determine if financial transactions for labor charged to Operations and Maintenance and Capital general ledger accounts under the IT organization during fiscal year 2018 received the proper accounting treatment. TVA’s IT had informal processes in place to compare forecast to actual project costs on a monthly and quarterly basis to ensure labor charges received the proper accounting treatment. While the description of these variance review processes appeared adequate, we found (1) they were not documented, and (2) limited evidence was provided to show the described processes were followed. TVA management agreed with our recommendations.
Date Issued:
Tuesday, April 28, 2020
Agency Reviewed / Investigated:
Submitting OIG-Specific Report Number:
2019-15646
Location(s):
Agency-Wide
Type of Report:
Audit
Questioned Costs:
$0
Funds for Better Use:
$0
Number of Recommendations:
2
View Document:
Attachment | Size |
---|---|
2019-15646.pdf | 458.65 KB |