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FY2000 - FY2003 Chapter 7 Audits and Field Exams

Top 25 Findings

 
 
FY 2000 FY 2001 FY 2002 FY 2003
Number of OIG Audits: 219 167 166 145
Number of UST Field Exams: 88 106 142 101
Number of CPA Audits: 0 0 14 0
Total 307 273 322 246
FY 2000 - FY 2003
Total % of % of
Rank Description of Finding Findings Reports Findings
1 Cash receipts log not properly maintained 934 81% 8%
2 Bank accounts not timely/properly reconciled/reviewed 778 68% 7%
3 Invoices/support not cancelled to prevent duplicate payment 414 36% 4%
4 Scheduled assets on Form 1 do not match petition/schedules 413 36% 4%
5 Receipts log not periodically traced from log to bank statements 405 35% 3%
6 Form 1 errors - miscellaneous / improper cut-off date 370 32% 3%
7 Insufficient segregation of duties 313 27% 3%
8 Transactions not adequately described on Form 2 295 26% 3%
9 Unscheduled assets not recorded/properly identified on Form 1 290 25% 2%
10 Untimely deposits 272 24% 2%
11 Receipts not properly referenced between Forms 1 & 2 252 22% 2%
12 No disaster recovery plan 251 22% 2%
13 Asset status not accurately reflected and tracked on Form 1 207 18% 2%
High-yield investments not considered 207 18% 2%
15 Passwords known to others/not changed annually 206 18% 2%
16 No or inadequate tracking system for receivables 202 18% 2%
17 Insufficient computer back-up procedures 200 17% 2%
18 No stale-dated check policy / do not have "Void after 90 days" 190 17% 2%
19 No or insufficient supporting documents for receipts 180 16% 2%
20 Form 3 errors - miscellaneous / improper cut-off date 168 15% 1%
No numbered receipts book or receipts not given 168 15% 1%
22 Form 2 errors - miscellaneous / improper cut-off date 165 14% 1%
23 Casualty/auctioneer insurance not verified or maintained 163 14% 1%
24 Assets not timely investigated/pursued 140 12% 1%
25 Inadequate supervision of professionals 135 12% 1%
TOTAL FY 2000 - FY 2003 FINDINGS - ALL REGIONS 11,772



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