FAC Explorer

Finding 524486 (2024-002)

Significant Deficiency
Requirement
G
Questioned Costs
-
Year
2023
Accepted
2025-02-26
Audit: 343831
Organization: Pop Biotechnologies Inc. (NY)
Auditor: Jeffrey Jackson CPA PC

AI Summary

  • Core Issue: POP Biotechnologies Inc did not follow proper procedures for selecting subcontractors by failing to create a Request for Proposal (RFP) as required.
  • Impacted Requirements: This oversight violates 2 C.F.R. Subpart F, including the need for independent auditor submissions and media publishing.
  • Recommended Follow-Up: Develop and implement RFP or RFQ processes to ensure compliance and strengthen internal controls.

Finding Text

POP Biotechnologies Inc For the selection of two subcontractors has not utilized process to develop a Request for Proposal (RFP) consistent with requirements outlined in 2 C.F.R. Subpart F. This includes independent auditor submission requirement, as well as, the relevant media publishing requirement. The auditor identified a need to develop RFP or RFQ requirements to maintain adequate internal controls.

Corrective Action Plan

In 2024, POP Biotechnologies, Inc is implementing procurement processes. The company will develop a procurement process. This process will help the company improve compliance with 2 C.F.R. Subpart F and 2 C.F.R. Subpart D

Categories

Procurement, Suspension & Debarment Internal Control / Segregation of Duties

Other Findings in this Audit

  • 524485 2024-001
    Significant Deficiency
  • 524487 2024-003
    Significant Deficiency
  • 1100927 2024-001
    Significant Deficiency
  • 1100928 2024-002
    Significant Deficiency
  • 1100929 2024-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
93.395 Interstitial Chemophototherapy with Light-Activated Nanoparticulate Doxorubicin [phase Ii] $1.00M
93.866 A Liposomal Platform for Spontaneous, Particleized Presentation of Hiv Trimer Immunogen $599,897
93.855 Developing A Thermostable Sars-Cov-2 Rbd-Particle Vaccine $299,991