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Report File
Title Full
Independent Auditors’ Report on the U.S. Department of the Interior’s Financial Statements for Fiscal Years 2024 and 2023
Date Issued
Submitting OIG
Department of the Interior OIG
Agencies Reviewed/Investigated
Department of the Interior
Components
Departmentwide
Report Number
2024-FIN-023
Report Description

KPMG audited DOI’s financial statements and found one material weakness and one significant deficiency in financial reporting internal controls.

Report Type
Audit
Agency Wide
Yes
Number of Recommendations
7
Questioned Costs
$0
Funds for Better Use
$0
Report updated under NDAA 5274
No
External Link
https://www.doioig.gov/reports/audit/independent-auditors-report-us-department-…

Open Recommendations

This report has 7 open recommendations.
Recommendation Number Significant Recommendation Recommended Questioned Costs Recommended Funds for Better Use Additional Details
2024-FIN-023-01 Yes $0 $0

We recommend the Department design policies and procedures to perform and document a risk assessment of new or revised accounting standards.

2024-FIN-023-04 No $0 $0

We recommend that management across the Department continue to develop and implement policy and standardized procedures in conjunction with the Asset Management Council for tracking fixed asset projects constructed by or with other Federal agencies.

2024-FIN-023-02 No $0 $0

We recommend the Department provide ongoing guidance and training to bureaus and offices to ensure compliance with the standards.

2024-FIN-023-03 No $0 $0

We recommend the Department perform a thorough risk assessment to identify changes needed to internal control processes and controls, including establishment of an information technology solution, to ensure ongoing compliance with SFFAS 54.

2024-FIN-023-05 No $0 $0

We recommend that management across the Department maintain strong communication channels with external Federal agencies involved in constructing assets on the Department's behalf. This should include establishing formal agreements, regular meetings, and periodic reconciliations to ensure all fixed asset transactions are transferred, captured, and recorded timely and accurately.

2024-FIN-023-06 No $0 $0

We recommend that management across the Department establish monitoring controls to regularly review and reconcile fixed asset transactions constructed by other Federal agencies within the financial records. This can involve periodic reviews of project documentation, invoices, and payment records to ensure completeness and accuracy.

2024-FIN-023-07 No $0 $0

We recommend that management across the Department conduct training sessions for relevant personnel involved in financial record-keeping to enhance their understanding of the importance of tracking construction projects performed by or with other Federal agencies. This will help ensure compliance with established procedures and controls.

Department of the Interior OIG

United States