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National Transportation Safety Board : weak internal control impaired financial accountability
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    NTL-PUBLIC TRANSPORTATION-Transit Planning and Policy ; NTL-PUBLIC TRANSPORTATION-Transit Safety and Security ; NTL-ECONOMICS AND FINANCE-Transit Economics and Finance ;
  • Abstract:
    The U. S. General Accounting Office (GAO) was asked to review the National Transportation Safety Board's (NTSB) internal controls over selected types of fiscal year expenditures. They were asked to determine whether internal control weaknesses were applicable to other aspects of NTSB's financial operations. They were also asked to report on the results of two separate reviews of NTSB's internal controls being conducted at NTSB's request by the public accounting and management consulting firm of PricewaterhouseCoopers, LLP (PwC). Briefly, taken together, the results of separate internal control reviews at NTSB by PwC and GAO suggest that there were significant deficiencies in the design and operation of NTSB's internal controls during 1999 and 2000. GAO's review of the design and operation of key internal controls associated with selected NTSB fiscal year 1999 payments for travel, products and services, and nonroutine benefits, such as awards and bonuses, found deficiencies in the design as well as the operation of selected policies and procedures in all three areas. For 1999, management did not assess or report on the adequacy of internal controls. With respect to 2000, while it provided for an external assessment of internal controls related to its financial operations, management has not issued its report on adequacy of internal controls as required by the Federal Managers' Financial Integrity Act of 1982. PwC's reviews documented a variety of internal control weaknesses. These include weaknesses in the use of a rapid payment system, problems with the completeness and clarity of policies, recording and review of transactions, and tracking of and reporting on its use of funds.
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