U.S. Department of Commerce
Independent Auditors' Report
Exhibit II – Status of Prior Year Reportable Conditions
Status of Prior Year Reportable Conditions
Reported
Issue |
Prior Year
Recommendation |
Fiscal Year 2006
Status |
| Financial Management Systems Need Improvement |
Weaknesses in general controls were identified in five of the six
FISCAM review areas. |
The Department should monitor bureau actions to ensure effective
implementation of our recommendations. |
Reportable Condition (see comments in Exhibit I). |
| Accounting for NIST Construction-In-Progress Needs Improvement |
Weaknesses in accounting for construction-in-progress (CIP) at the National
Institute of Standards and Technology (NIST). |
NIST Chief Financial Officer (CFO) should establish and enforce routine controls to
ensure that completed construction projects are removed timely from CIP and only
capitalizable costs are added to NIST’s CIP balance. |
Completed. |
