The Digital Accountability and Transparency Act of 2014 (DATA Act) requires OIG to annually audit SBA’s financial data and adherence to government financial data standards. We contracted with the independent certified public accounting firm KPMG LLP to conduct the annual audit. KPMG found the agency’s reporting required under the DATA Act. SBA met the government-wide financial data standards, and the data submission was of higher quality than in previous years. The agency has made progress since the 2019 audit increasing the availability, accuracy, and usefulness of federal spending information.However, SBA did not submit certain data completely, accurately, or on time. In addition, SBA needs to improve the completeness and accuracy of DATA Act reporting.
Report File
Date Issued
Submitting OIG
Small Business Administration OIG
Other Participating OIGs
Small Business Administration OIG
Agencies Reviewed/Investigated
Small Business Administration
Report Number
22-04
Report Description
Report Type
Audit
Agency Wide
Yes
Number of Recommendations
8
Questioned Costs
$0
Funds for Better Use
$0
Open Recommendations
This report has 1 open recommendations.
| Recommendation Number | Significant Recommendation | Recommended Questioned Costs | Recommended Funds for Better Use | Additional Details | |
|---|---|---|---|---|---|
| 2 | Yes | $0 | $0 | ||
| Enforce that documentation is maintained to evidence changes to a loan and ensure that awarding actions are entered into the source systems in a timely manner. | |||||
