Audit of the U.S. Election Assistance Commission's Financial Statements for Fiscal Years 2012 and 2011

Ensure that EAC personnel with federal accounting expertise, including the preparation of financial statements, are available to assist EAC officials in providing appropriate oversight and reporting of its financial and accounting operations.

Develop a detailed operating procedure that provides guidance on the preparation, review and approval of agency financial statements, and requires supporting documentation to be compiled, reviewed and approved for all financial statement line items and…

Develop policies and detailed operating procedures relating to the accounting for and control of advances made by EAC. Ensure these policies and procedures specify: (a) under what circumstances advances are provided; (b) roles and responsibilities; and (…

Review accounting, grant and contracting records for fiscal year 2012 to ensure that all advances have been properly recognized in the agency's accounting and subsidiary records.

Take action to have advances promptly returned to the agency when either the grant has expired, the purpose of the grant has been completed, when the purpose of the non-grant advance has been accomplished, or when the funds are not being used in a timely…

Ensure that problems identified with undelivered orders in the accounting system are corrected, and controls are established to prevent such problems in the future.

Complete the analysis of differences between EAC grant subsidiary records and the general ledger accounting system, and make necessary adjustments to those systems that are incorrect. Maintain documentation of the problems noted, and revise or issue EAC…

Strengthen EAC’s subsidiary grant records to ensure that accurate and complete information is maintained on grant advances, disbursements, and other required information.

Strengthen EAC policies and procedures for identifying the amount that should be accrued for grant and non-grant liabilities.

Implement an internal control process that provides appropriate agency oversight over the JVs processed by the current service provider.

Provide training to EAC accounting personnel to ensure that they have the skills to provide adequate oversight of this area.