Audit Reports

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Report on NTSB Financial Management Practices and Internal Controls

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We publicly released our review of NTSB’s financial management practices and internal controls, noting that the board has made progress since 2001 as follows: NTSB (1) abolished the use of “rapidrafts” and implemented use of Government credit cards; (2) outsourced travel claim examinations and payments to the U.S. Treasury; (3) implemented 56 of 72 recommendations made by PricewaterhouseCoopers in January 2001 and GAO in September 2001; and (4) entered into an agreement with the Department of Interior to use a fully integrated financial system. We found several internal control weaknesses, including not recording obligations in a timely way and not paying interest on late payments. NTSB has taken action to correct them.