Why We Did This Assessment
OIG performs an annual risk assessment of the Inter-American Foundation’s (IAF) charge card programs pursuant to Public Law 112-194, the Government Charge Card Abuse Prevention Act of 2012 (Charge Card Act). Such risk assessments help us to determine the necessary scope, frequency, and number of audits or reviews of agency charge card programs. Our objective was to assess the risks of illegal, improper, or erroneous purchases and payments in IAF’s fiscal year 2024 charge card program, which includes individually and centrally billed travel cards and purchase cards. We performed the assessment in accordance with the Office of Management and Budget’s Circular No. A-123, Appendix B, and our internal OIG handbook.
What We Found
The Agency’s policies and procedures addressed Federal internal control requirements, resulting in adequate monitoring and reconciliation procedures that reduced risks of illegal, improper, and erroneous purchases and payments in the charge card program. Further, IAF’s charge card spending did not exceed $10 million; therefore, an audit or review of the program is not necessary.
Why It Matters
The Charge Card Act was enacted to prevent fraud, delinquency, or misuse that may exist in a Federal agency’s charge card program. We did not include any recommendations in our report.