Executive Summary of the Audit of the Peace Corps' Financial Statement FY 2025

Date Issued

Tuesday, December 16, 2025

Submitting OIG

Peace Corps OIG

Agencies Reviewed/Investigated

Peace Corps

Report Description

The audit concluded that the Peace Corps’ financial statements were fairly presented, in all material respects, in accordance with Generally Accepted Accounting Principles (GAAP), and noted two significant deficiencies in the agency’s internal control over financial reporting, as well as one instance of reportable noncompliance related to provisions of applicable laws, regulations, contracts, and grant agreements.

Report Type

Audit

Agency Wide

Yes

Number of Recommendations

Questioned Costs

Funds for Better Use

Report updated under NDAA 5274

Open Recommendations

This report has 6 open recommendations.

Recommendation Number	Significant Recommendation	Recommended Questioned Costs	Recommended Funds for Better Use
1	No	$0	$0
In coordination with OCFO and the OCIO, develop and implement a plan with defined milestones and timelines to resolve data discrepancies between Maximo and Odyssey and ensure property data are complete, accurate, and properly reconciled with the F/A module. As part of this plan, clarify roles, responsibilities, and coordination mechanisms between offices to ensure sustained accountability for property management and reconciliation activities.
2	No	$0	$0
Assess and, where feasible, enhance Maximo’s configuration to automate key property management controls. This assessment should include a cost–benefit analysis to determine viable improvements and identify compensating controls if system enhancements are not practical, to ensure consistent and accurate property data entry and reconciliation.
3	No	$0	$0
Finalize and issue updates to property management policies and procedures, including the DFMH, MS 511, and related guidance, to reflect the implementation of Maximo as the agency’s property management system and ensure alignment with current processes and controls.
4	No	$0	$0
Ensure all Posts receive and acknowledge updated property management guidance and expectations for the use of Maximo. This could include providing refresher training or written instructions on key processes, such as asset capitalization, status updates, and disposals, and obtaining confirmation from Posts that the information was reviewed and understood.
5	No	$0	$0
Reinforce the Annual Inventory Certification process as a data-quality control by providing targeted guidance and verification procedures to ensure that certifications accurately reflect property records in Maximo.
6	No	$0	$0
Continue performing monthly reconciliations between Maximo and Odyssey and enhance the reconciliation process, as appropriate, based on the results of the Maximo configuration assessment in Recommendation 2. Coordinate with the Compliance and Risk Office to ensure the reconciliation process is properly designed, consistently executed, and effective in identifying and resolving differences in a timely manner.