FY2000-FY2003,Chapter 7 Audit And Field Exam Findings, All Regions, Inadequate

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Findings Most Likely to Result in an "Inadequate" Opinion/Conclusion

FY 2000 - FY 2003 Chapter 7 Audits and Field Exams

All Regions

 
 
 
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
Reports with "Inadequate" Opinion/Conclusion 18 11 31 17
FY 2000 FY 2001 FY 2002 FY 2003 FY00-03
Description of Finding Findings Findings Findings Findings Findings
Case Administration Issues
Investigation, Liquidation, and Collection of Assets:
Estate assets or records not secured or untimely secured 22 24 36 15 97
Untimely/inadequate/no inventory of estate assets 22 13 23 22 80
Untimely turnover of auction proceeds 3 5 7 11 26
Internal Controls
Bank Accounts:
Funds deposited to non-estate accounts (commingled) 32 26 26 11 95
Disbursements:
Signature stamp not controlled by trustee/used to sign checks 8 6 9 2 25
Evidence that checks have been signed before filled out 2 0 0 0 2
Use of counter checks or money orders 1 0 0 0 1
Checks payable to "cash" or "bearer" 1 0 0 0 1
Receipts:
Undeposited funds in estate file or other unsecure location 9 8 14 6 37
Segregation of Duties and Office Operations:
Trustee does not actively supervise employees 9 5 5 1 20
Computer Operations and Security:
Computer system not secure 19 21 50 22 112
Trustee/staff cannot operate computer system 12 9 6 4 31
Total Number of Audit Findings 140 117 176 94 527


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Updated May 7, 2015