Commodity Credit Corporation's Financial Statements for Fiscal Years 2018 and 2017
Implement effective UDO monitoring controls at the program level, whereby the responsibility for assessing the accuracy and validity of open obligations resides at the program level, and the accounting execution, if necessary, as a result of the programmatic monitoring resides with the CCC accountants.
Provide necessary training to the County field offices’ personnel over the requirements of OMB A-11 for recording obligations, and, where necessary, ensure program handbooks are up to date regarding execution and related accounting, to ensure consistent understanding and recording of obligations in accordance with OMB A-11 across all field offices.
Implement effective automated and/or manual controls to evaluate the relationship between a CRP annual rental contract and CRP cost share contract; and develop and implement data analytic routines and management review controls related to program UDO populations to identify and correct for abnormalities in the data.
Strengthen management controls related to the annual ARC/PLC UDO calculation to ensure that it is performed at a level of precision to include relevant and accurate data elements, such as enrollments and crop prices that reflect the documentation submitted by the producer and approved by management.
Implement processes, procedures, and controls to ensure accurate recognition of adjustments to delivered orders are input into the accounting systems and perform periodic reviews of the accounting events to validate the results of recorded transactions.