We recommend that Coast Guard improve and reinforce existing policies, procedures, and related internal controls to ensure that: a) management adequately researches, supports, and reviews all journal entries and adjusting entries prior to recording in the general ledger; b) management records approved on top adjustment entries in the correct underlying general ledger systems in order to generate accurate beginning balances; c) personnel record transactions to the accurate trading partner upon initiation; reconcile all intragovernmental balances with trading partners; and resolve differences in a timely manner; and d) management enhances documentation of their actuarial liability estimate reviews and refines their review of the actuarial liabilities report, underlying data, and assumptions to include precise reconciliations and thresholds.
Questioned Costs
$0
Funds for Better Use
$0
Recommendation Status
Open
Source UUID
3a0d24cd-617d-4df7-80d6-a7e06cf41c9b-4
Recommendation Number
4
Significant Recommendation
No