Federal Reports

Reporting Required by Government Auditing Standards section is solely to describe the scope of our testing of internal control and compliance with selected provisions of applicable laws, regulations.

The Charge Card Act requires the OIG to conduct periodic reviews of DFC’s charge card program for illegal, improper, or erroneous transactions to prevent fraud, delinquency, or misuse.Our objectives were to (1) determine the level of risk of illegal, improper, or erroneous purchases and payments; (2) determine the scope, frequency, and number of audits or reviews to be conducted on the basis of a risk assessment; and (3) address the requirements of the Charge Card Act, OMB, and General Services Administration (GSA) requirements and standards. This was our first audit of DFC’s compliance with the Charge Card Act.

The U.S. International Development Finance Corporation Office of Inspector General (DFC OIG) contracted with RMA Associates, LLC to audit DFC’s compliance with the Digital Accountability and Transparency Act (DATA Act) for the second quarter of fiscal year 2021. Our objectives were to (1) assess the completeness, accuracy, timeliness, and quality of the second quarter fiscal year 2021 financial and award data submitted by DFC for publication on USASpending.gov; and (2) assess DFC’s implementation and use of the government-wide financial data standards established by the Office of Management and Budget (OMB) and U.S. Department of the Treasury. This was our first audit of DFC’s compliance with the DATA Act.