Answer: There is a significant deficiency in our internal controls related to procurement procedures.
Trend: This issue indicates ongoing challenges in meeting compliance with federal regulations under 2 CFR Part 200.
List: Follow up by reviewing procurement processes, enhancing training for staff, and implementing stronger oversight measures.
Finding Text
Significant deficiency in internal control over compliance with procurement procedures meeting the requirements of 2 CFR Part 200.
Corrective Action Plan
Implement a standardized procurement documentation checklist requiring evidence of procurement method, cost/price analysis, and approvals. Require CFO pre-approval for federally funded procurements above established thresholds. Conduct staff training on federal procurement standards. Implement quarterly internal procurement compliance reviews.
Categories
Procurement, Suspension & DebarmentSignificant DeficiencyInternal Control / Segregation of Duties