FAC Explorer

Finding 524487 (2024-003)

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

AI Summary

  • Issue: Two subcontractors were selected without following the proper procurement process for federal expenditures.
  • Requirement Impacted: The lack of RFP or RFQ development undermines internal controls.
  • Recommendation: Establish clear RFP or RFQ requirements to ensure compliance and strengthen procurement processes.

Finding Text

POP Biotechnologies Inc for procurement, upon the selection of two subcontractors which was utilized by the Corporation during the year that received federal expenditures greater than the micro-purchase threshold, but did not exceed the simplified acquisition threshold, this purchase did not go through a procurement process. 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. The process should comply with § 75.327 General procurement standards and with 2 C.F.R. Subpart F and 2 C.F.R. 200.320(1)&(2)

Categories

Procurement, Suspension & Debarment

Other Findings in this Audit

  • 524485 2024-001
    Significant Deficiency
  • 524486 2024-002
    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