Report on the Railroad Retirement Board's Financial Statements Fiscal Year 2023

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Date Issued

Wednesday, November 15, 2023

Submitting OIG

Railroad Retirement Board OIG

Other Participating OIGs

Railroad Retirement Board OIG

Agencies Reviewed/Investigated

Railroad Retirement Board

Report Number

24-01

Report Type

Audit

Agency Wide

Yes

Number of Recommendations

Questioned Costs

Funds for Better Use

Open Recommendations

This report has 5 open recommendations.

Recommendation Number	Significant Recommendation	Recommended Questioned Costs	Recommended Funds for Better Use	Additional Details
2	No	$0	$0	The Railroad Retirement Board did not express concurrence or nonconcurrence with this recommendation.
The Railroad Retirement Board's Bureau of Information Services should review and update the entirety of the Railroad Retirement Board Records Disposition Schedule including the removal of items that are no longer relevant.
5	No	$0	$0	The Railroad Retirement Board did not express concurrence or nonconcurrence with this recommendation.
The Railroad Retirement Board's Bureau of Fiscal Operations should implement a process to ensure both accounting and financial reporting processes Accounting Procedures Guides are reviewed and updated periodically to support its accounting and financial reporting processes.
6	No	$0	$0	The Railroad Retirement Board did not express concurrence or nonconcurrence with this recommendation.
The Railroad Retirement Board's Bureau of Fiscal Operations should implement a process to ensure the review and approval of Accounting Procedures Guides are properly documented with a date stamp of when the Audit Program Guides were approved along with an authorizing official's signature indicating the approval.
7	No	$0	$0	The Railroad Retirement Board did not express concurrence or nonconcurrence with this recommendation.
The Railroad Retirement Board's Bureau of Fiscal Operations should maintain a master list of all Accounting Procedures Guides for tracking and archival purposes.
8	No	$0	$0	The Railroad Retirement Board did not express concurrence or nonconcurrence with this recommendation.
The Railroad Retirement Board's Bureau of Fiscal Operations should withdraw and archive outdated Accounting Procedures Guides that are no longer followed or needed.