Audit Reports
Report on NTSB Financial Management Practices and Internal Controls
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.