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089120 1 (1975-08-18)

handle is hein.gao/gaobacvdm0001 and id is 1 raw text is: <~ s~ zCK7 1 ~ I '4 ~ 4 0 -*~ UNITED STATES GENERAL ACCOUNTING OFFICE bq 9/do REGIONAL OFFICE SUITE 300-D, 240 W. 26TH AVENUE DENVER, COLORADO 80211 AUG 1 8 1975 Mr. E. Maine Shafer District Director Small Business Administration Post Office Box 3086 Fargo, North Dakota 58102 6 Dear Mr. Shafer: This is to notify you that we have completed our work on the Review of the Small Business Administration's management, organization, and review functions, code 07765. I wish to take this opportunity to express my appreciation for the assistance and cooperation extended Messrs. Goetz, Neely, and Buschy of my staff. To obtain opinions on suggested modifications to SBA's Standards of Conduct Program, we interviewed several members of your staff. We were specifically interested in their opinions on the ownership of bank stock by SBA employees, expanding the requirement to file statements of employ- ment and financial interest, and the responsibility to monitor these state- ments. We also interviewed selected employees and reviewed necessary documentation to resolve questions concerning potential conflict of interest situations. The results of this review did not disclose any matters re- quiring your attention. During our e xamination of SBA review function , we noted that circum- stances, simila those identified in two SBA in ernal audit reports, existed in the Fargo District. These items were discussed with you and appropriate regional personnel during our exit conferences and apply to: 1. Internal auddit report 5-74, Report of Audit on Review of Selected Aspects of Liquidation and Disposal Activities, dated August 1, 1973. 2. Internal audit report 8-74, Report of Audit on the Preliminary Review of Post Examination and Report Upon Purchase of Guaranteed Loans, dated May 3, 1974. Although we did not perform a detailed review of your records concerning the subjects of these internal audit reports, the following circumstances were noted:

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