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… reporting, and compliance and other matters that have a direct and material effect on the financial statements.  … were no material weaknesses in internal control. There is a significant deficiency related to SBA’s information technology security controls, which is a repeat condition. There is one instance of noncompliance …

… the extent to which the joint venture agreement between a mentor and protégé resulted in substantial benefits to the 8(a) participant, and (2) assess the SBA’s oversight of Mentor … venture arrangements and did not effectively oversee 8(a) firms that have joint venture agreements.  As a result, …

… were no material weaknesses in internal control. There is a significant deficiency related to the SBA’s information … Within 30 days of this report, KPMG expects to issue a separate letter to SBA management regarding other, less …

… the correct amount.  The OIG found that the SBA approved a total of nearly $1 million more than it should have for 11 … officers processing the applications and were approved by a separate supervisory loan officer.  Thus the OIG concluded … amount. The OIG recommended that the agency develop a checklist for key requirements such as applicant …

… Audit Report 14-18: Evaluation of Select 8(a) Business Development and HUBZone Contract Awards This … presents the results of our evaluation of select Section 8(a) Business Development Program and Historically … opportunities for firms currently participating in the 8(a) or HUBZone programs. Further, the OIG found that HUBZone …

… cardholders and approving officials on the proper use of a government purchase card, to include purchase limitations …

… STEP grant program, which may result in misspent funds and a failure to achieve intended results.  For example, … Trade and the Office of Grant Management awarded a grant to an ineligible applicant, provided untimely and … grant terms and conditions.  The audit team recommended a total of nine specific actions that we believe will improve …

… included: loans approved that lacked creditworthiness; a loan approved with a collateral shortfall; and a loan approved as an existing business instead of a new …

… Performance Problems of High-Risk Lenders Remains a Challenge for the Small Business Administration Audit … Performance Problems of High-Risk Lenders Remains a Challenge for the Small Business Administration Report … 2005 and October 2010 for 16 lenders selected from a universe of 57 lenders, with 33 reports.  The OIG found …

… Audit Report ROM 10-09: Lack of Approval for a Recovery Act Surety Bid Bond Guarantee This management … work for this review. The surety bid bond was approved by a preferred surety company on July 7, 2009, through the Surety Bond Guaranty (SBG) System in the …

… of Electronic Records Management.  After completing a survey, the Auditing Division decided not to perform an … and (2) magnetic tapes containing records needed for a prior audit were inappropriately erased.   The OIG, …

… spent the advance funds to meet its payroll.  As a result, the subcontractor repossessed the furniture causing … the SBA also violated Federal regulations by advancing a $226,678 payment to the prime contractor prior to the … totaling $78,856 that were unrelated to the contract.  As a result, the SBA executed over $300,000 in improper payments …

… are available only in paper and on CD-ROM.  If would like a copy of one or more, contact the Office of Inspector …

… accepted accounting principles.  The auditor documented a significant deficiency in management’s information … the OCIO did not retain the logs long enough to allow for a sufficient review, and (4) the OCIO did not have formal … for the Loan Accounting System (LAS) did not contain a date indicating when it was last updated.  Office of …

… Business Centers . This audit was conducted in response to a request from the Senate Committee on Small Business and … needed to expedite disbursements.  The OIG also conducted a brief review of the WBC grant award process to identify …

… times by the SBA.  Specifically, the SBA processed a batch payment multiple times resulting in duplicate … in their review, only 16 actual duplications totaling $7,464,000.   Improvement needed in the Office of Credit Risk … of their work on lender oversight, the IPA selected all 7(a) lenders as of June 30, 2008, with a risk rating of 4 …

… over financial reporting, the IPA continued to report a significant deficiency related to Information Technology … controls, but did not consider this deficiency to be a material weakness.  The IPA noted that the SBA made …