New Audit Announcements

 
March 12, 2014

Audit Announcement of FAA Oversight of Accountable Property

Self-initiated
Project ID: 13F3018F000
 
 
 

Summary

The Office of Inspector General is initiating an audit of FAA’s oversight of non-capitalized accountable personal property. Non-capitalized property has a value of less than $100,000 and is not recorded in DOT’s consolidated financial statements as assets. In 2013, we reported that purchase cardholders and property control officials at FAA did not always follow Agency policy for tracking accountable personal property such as computers and digital cameras. As of November 2013, FAA’s automated inventory tracking system included about $1.2 billion of non-capitalized accountable personal property. Our objectives are to (1) determine whether FAA has implemented effective internal controls for managing non-capitalized accountable property, and (2) assess the extent of compliance with these controls.

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