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HRD-79-129 1 (1979-10-01)

handle is hein.gao/gaobaaztj0001 and id is 1 raw text is: RELEASED NmsTR,cTED - N.t ,d e th General Abcountng Office except o the ha s of specilli aPrPOVOl by the Office Of COngrC@PI! 91.10%0E% COM-TROLMR GNERAL OP 114KUNITED STATUI0.= WAUEISTO.D.C. &MMd B-180229 OCTOBER 1, 1979 The Honorable Howard W. CannonJ Chairman, Committee on Commerce, . 111111 I Science, and Transportation United States Senate 110523 The Honorable Wendell H. Ford Chairman, Subcommittee on Consumer Committee on Commerce, Science, and Transportation United States Senate Subject: iscal Controls in the Federal Trade Commission's Public Participation Program Should Be StrengtheneI(HRD-79-129) Pursuant to your June 6, 1979, joint request, we have reviewed the Federal Trade Commission's (FTC's) fiscal controls over its Public Participation Program. You spec- ifically asked us to (1) determine whether FTC's audits of the program have been made in accordance with generally accepted auditing standards, (2) determine whether the audited participants have made refunds to FTC for disallowed expenditures, and (3) make financial audits of some unaudited participants that received more than $50,000 and some that received less than $50,000. On the basis of our review we believe that FTC's audit of program expenditures and its efforts to collect amounts disallowed in the audit were generally satisfactory. How- ever, FTC can make its internal auditing oE the program more effective by (1) increasing the scope of the audits to include periodic reviews of FTC determinations of par- ticipant eligibility (see p. 6) and (2) having the internal audit function report to a higher agency official, preferably the Chairman (see p. 7). Also, FTC could strengthen program administration through (1) better direction and guidance to participants regarding accounting for reimbursable costs incurred under the program (see p. 9) and (2) closer attention to fiscal accounting of program funds (see p. 12). (208101)

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