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Commodity Credit Corporation's Financial Statements for Fiscal Years 2020 and 2019

Report Information

Date Issued
Report Number:
06403-0003-11
Report Type
Audit
Component
Commodity Credit Corporation
Description
OIG audited the consolidated financial statements of the Commodity Credit Corporation for fiscal years 2020 and 2019.
Joint Report
No
Agency Wide
Yes (agency-wide)
Questioned Costs
$0
Funds for Better Use
$0
View report on Oversight.gov

Recommendations

Update its SOP and provide necessary training related to the review of obligations recorded at year-end.

https://www.usda.gov/oig/audit-reports/commodity-credit-corporations-financial-…

Continue the design and implementation of effective processes, procedures, and controls to accurately identify those ARC/PLC contracts that are approved at fiscal year-end within CCC's financial systems in order to only obligate activities related to approved contracts.

https://www.usda.gov/oig/audit-reports/commodity-credit-corporations-financial-…

Implement effective processes, procedures, and controls over the ARC/PLC year-end accrual to ensure the completeness and accuracy of the underlying data.

https://www.usda.gov/oig/audit-reports/commodity-credit-corporations-financial-…