Commodity Credit Corporation's Financial Statements for Fiscal Years 2018 and 2017

Implement effective internal controls to review and reconcile the general ledger account inter-relationships, between borrowing authority and other budgetary accounts. In addition, we recommend CCC record borrowing authority at the appropriate program level to prevent abnormal balances, which assist in meaningful account review and reconciliation.

We provided detailed recommendations in separate findings to management. In summary, we recommend that CCC, strengthen the management review controls to validate the completeness and accuracy of the data being used in the grant calculator (estimate methodology). This process should be refined to include a more thorough review and analysis using other source documentation utilized by CCC’s partner agency.

We recommend that management, through coordination with other necessary parties, complete the evaluation related to the ADA matters, communicate to necessary parties (Congress, President, and Comptroller General) if it is determined that a reportable violation occurred, and implement policies and procedures to prevent future violations.

We recommend that management implement the recommendations presented in Exhibit I, to resolve the instances of noncompliance with FFMIA.