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Report File
Date Issued
Submitting OIG
Consumer Product Safety Commission OIG
Agencies Reviewed/Investigated
Consumer Product Safety Commission
Report Number
25-A-01
Report Type
Audit
Agency Wide
Yes
Number of Recommendations
15
Questioned Costs
$0
Funds for Better Use
$0
Report updated under NDAA 5274
No

Open Recommendations

This report has 9 open recommendations.
Recommendation Number Significant Recommendation Recommended Questioned Costs Recommended Funds for Better Use Additional Details
6 No $0 $0

Improve the communication process between offices within the CPSC to ensure relevant and necessary financial reporting information requirements are communicated timely to achieve financial reporting requirements.

7 No $0 $0

Enhance design, policies, and procedures related to monitoring and oversight of internal controls related to journal entries.

8 No $0 $0

Review the existing roles for both journal entries and the compensating control of journal entry log recordation, and update as appropriate to ensure segregation of duties.

9 No $0 $0

Provide training on the importance of internal control and segregation of duties based on updated policies and procedures.

10 No $0 $0

Document their understanding of the acquisition process and determination of the appropriate recognition date of PP&E in order to update and enhance policies and procedures to align with the requirements of the applicable financial reporting standards.

11 No $0 $0

Design and implement processes and controls in accordance with those updated policies and procedures to ensure PP&E balances are completely and accurately recorded in the general ledger.

12 No $0 $0

Establish recurring communication with the appropriate stakeholders to ensure necessary information is available for analysis.

13 No $0 $0

Design and implement processes and controls for accountable property to ensure accountable property is completely and accurately tracked.

14 No $0 $0

Formalize and document a policy over prepaid expenses, including consideration of compliance with Generally Accepted Accounting Principles.

Consumer Product Safety Commission OIG

United States