Independent Auditors’ Report on EXIM’s Data Act Submission

We recommend that the SAO and EXIM’s DATA Act Working Group determine the root cause of the errors in EXIM-provided data identified during the testing of the second quarter FY 2021 Files D1 and D2, and take necessary corrective action to: (a) correct the...

We recommend that the SAO and EXIM’s DATA Act Working Group continue to improve the design of its review of the procurement award data in FPDS and financial assistance award data submissions to FABS by identifying the root cause for the exceptions in...

We recommend that the SAO and EXIM’s DATA Act Working Group review EXIM’s policies and procedures for submitting contract award data in FPDS, including procedures for reviewing and confirming the accuracy of the CAR, to ensure proper design and...

We recommend that the SAO and EXIM’s DATA Act Working Group review EXIM’s policies and procedures that address timelines for submitting complete and accurate FABS files containing financial assistance award data, to ensure proper design and compliance...

We recommend that the SAO and EXIM’s DATA Act Working Group complete a data inventory for File D1 that defines each data element based on government-wide financial data standards, and that EXIM seeks clarification from OMB and Treasury, as necessary, in...

We recommend that the SAO and EXIM’s DATA Act Working Group establish policies and procedures to help ensure that all data reported in FABS and included in EXIM’s certified File D2 are reported as intended by the Data Act Standards, and that EXIM seek...

We recommend that the SAO and EXIM’s DATA Act Working Group complete a data inventory for each of Files A through D1 to govern EXIM’s DATA Act activities and help ensure compliance with government-wide financial data standards.

We recommend that the SAO and EXIM’s DATA Act Working Group develop and document a review process of the data inventories for Files A through D2 that EXIM will perform at regular intervals and after each DAIMS update.

We recommend that the SAO and EXIM’s DATA Act Working Group develop, test, and implement a DQP that covers significant milestones and major decisions pertaining to:
• Organizational structure and key processes providing internal control activities for...

We recommend that the SAO in coordination with the OCFO continue to implement its corrective action plan to ensure that object class codes are accurately and completely reported in all financial and award data submissions (Files B and C).

We recommend that the SAO in coordination with the OCFO design and implement a reconciliation mapping process that includes all GL accounts that comprise each File-A data element, and use it consistently for each reconciliation.

We recommend that the SAO in coordination with the OCFO ensure that it fully documents the nature, cause, and resolution of variances that exist in the reconciliations.