Audit of the Office of Development Credit’s Compliance With Federal Regulations and Guidance
Recommendations
Recommendation
1
The Office of Development Credit revise loan portfolio guarantee target utilization rates to reflect historical data, and incorporate them into its operations manual and portfolio monitoring guide.
Questioned Cost
0
Close Date
Recommendation
2
The Office of Development Credit implement an action plan to encourage banks to meet loan portfolio guarantee target utilization rates and require them to include utilization guidelines in on-boarding documents for bank partners.
Questioned Cost
0
Close Date
Recommendation
3
The Office of Development Credit confirm and document that partner banks have clear and acceptable utilization strategies before finalizing guarantees.
Questioned Cost
0
Close Date
Recommendation
4
The Office of Development Credit establish guidelines on when to amend, modify, or terminate a guarantee for insufficient use.
Questioned Cost
0
Close Date
Recommendation
5
The Office of Development Credit coordinate with missions to define what constitutes a micro, small, and medium-size enterprise in the host country and consistently insert those definitions into its legal agreements directed at such enterprises.
Questioned Cost
0
Close Date
Recommendation
6
The Office of Development Credit revise its operations manual and portfolio monitoring guide to require that it or the mission conduct on-site reviews and/or commission an independent auditor, when warranted.
Questioned Cost
0
Close Date
Recommendation
7
The Office of Development Credit implement a procedure to clearly document the weighting of the risk factors in guarantees packages and the bases for adjusting or not adjusting those risk weightings.
Questioned Cost
0
Close Date