Answer: The Organization lacked controls to ensure proper review of transactions for suspension and debarment.
Trend: This oversight may lead to increased risk of non-compliance with regulatory requirements.
List: Implement controls to document transaction reviews, train staff on compliance, and regularly audit the process.
Finding Text
The Organization did not have controls in place to document the proper review of covered transaction for proper suspension and debarment prior to entering into the transaction.
Corrective Action Plan
Organization will ensure all covered transactions are properly reviewed and documentation maintained in the procurement files, prior to entering into future agreements.