| 1 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should establish and maintain relationships with key business process owners, including sub-processes, across the Railroad Retirement Board to obtain documentation relevant to the support of all aspects of financial management practices in a timely manner.
|
| 2 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should develop communication or “knowledge sharing” training to ensure Railroad Retirement Board stakeholders understand the requirements of financial management and the importance of providing sufficient and appropriate supporting documentation in a timely manner.
|
| 3 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should develop training or reference guides for stakeholders to utilize when providingdocumentation to ensure the documentation provided meets the required needs.
|
| 4 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should develop and communicate an enterprise-wide financial reporting timeline, which includes monthly, quarterly, and yearly deadlines.
|
| 5 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should report a statement of no assurance given the materiality of the National Railroad Retirement Investment Trust balances reported in the Balance Sheet.
|
| 6 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Information Services should design and implement the necessary information technology controls in the following five areas: 1. Security Management, 2. Access Controls, 3. Configuration Management, 4. Segregation of Duties, and 5. Contingency Planning.
|
| 7 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should round financial statements and other related financial information to thousands or millions to decrease the number of mathematical errors due to rounding.
|
| 8 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should develop and implement effective controls, including a quality assurance process, necessary to ensure: (a) accounting and reporting are in accordance with U.S. Generally Accepted Accounting Principles and financial information is presented in compliance with Office of Management and Budget Circular A-136, Financial Reporting Requirements; (b) account balances are accurate as of and through the reporting period; (c) the proper validation, review, and approval over financial reporting and Performance and Accountability Report compilation.
|
| 9 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Services should develop, identify, and make available the training necessary to ensure that staff obtain and update the skills necessary to ensure compliance with: (a) Federal Accounting Standards Advisory Board concepts and accounting standards; (b) Office of Management and Budget A-123; (c) Office of Management and Budget A-136; (d) Government Accountability Office disclosure checklist; (e) Treasury’s U.S. Standard General Ledger annual update.
|
| 10 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should establish a process to maintain detailed corrective action plans for all internal control deficiencies. More specifically, in order to comply with the requirements of Office of Management and Budget A-123, Railroad Retirement Board Bureau of Fiscal Operations should: (a) Communicate corrective actions to the appropriate level of the Agency and delegateauthority for completing corrective actions to appropriate personnel. (b) Determine the resources required to correct a control deficiency. The corrective action plan must indicate the types of resources needed (e.g., additional personnel, contract support, training, etc.), including non-financial resources, such as Senior Leadership support for correcting the control deficiency. (c) Include critical path milestones that affect the overall schedule and performance of the corrective actions needed to resolve the control deficiency. Critical path milestones must lead to a date certain of the correction of the control deficiency. (d) Require prompt resolution and internal control testing to validate the correction ofthe control deficiency. (e) Ensure that accurate records of the status of the identified control deficiency are maintained and updated throughout the entire process. (f) Ensure that the corrective action plans are consistent with laws, regulations, and Agency policy. (g) Ensure that performance appraisals of appropriate officials reflect effectiveness in resolving or implementing corrective action for identified material weaknesses. (h) Fully disclose uncorrected internal control weaknesses and highlight those that are material.
|
| 11 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should require responses to the Open Obligations Review for Current and Prior Fiscal Years Memorandum to be submitted at a time that allows the Railroad Retirement Board to meet its financial reporting deadlines as required by Office of Management and Budget A-136.
|
| 12 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should improve its internal controls so that supporting documentation for journal entries is available for external review.
|
| 13 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should establish internal controls to support transactions classified within the correct budget fiscal years when initially recorded so that material adjustments as part of the Government-wide Treasury Account Symbol Adjusted Trial Balance System edit process are not required.
|
| 14 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should complete a detailed balance fluctuation analysis that is adequate to allow management to evaluate the reasonableness of balances and detect the risk of material misstatement.
|
| 15 |
No |
$0 |
$0 |
Management does not concur with this recommendation. This recommendation remains open because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the recommended corrective action. |
|
The Railroad Retirement Board Bureau of Fiscal Operations should implement internal controls to ensure financial statements are carefully reviewed, approved, and validated by appropriate Railroad Retirement Board staff and account balances are accurate as of and through the reporting period.
|
