Identify key balances, such as high-risk balances or high dollar value items and ensure that supporting schedules agree with stated balances
Develop a plan for completing the FY 2026 internal controls assessment and resulting assurance statements, including the timing and who is responsible for completing the assessment
Perform the FY 2026 internal controls assessment and prepare the resulting assurance statements in accordance with Federal requirements and within the required due date
Establish and implement a financial reporting process to ensure timely preparation of an OMB Circular A-136-compliant AMR that is appropriate for its current size, staffing levels, and mission
Develop procedures to analyze systems, controls, and legal compliance to the extent necessary to prepare management's assurances related to FMFIA
For material transactions that sample support cannot be located, obtain alternative evidence such as confirmations from vendors, grantees or banks
Develop and document retention controls that take into consideration USADF's current structure
Establish and implement a financial reporting process to ensure timely preparation of quarterly and annual financial statements in compliance with OMB Circular A-136 that is appropriate for its current size, staffing levels, and mission
Determine personnel gaps in its financial reporting function and determine whether these roles can be filled by existing USADF personnel
Implement monitoring mechanisms to ensure adherence to federal financial management requirements and timely corrective action for deficiencies
Consider implementing alternative solutions, to provide internal control support, including FMFIA/A-123 testing and documentation updates
Develop and implement a streamlined internal control and risk assessment plan focused on the drawdown of operations, prioritizing high-risk areas such as disbursements, funds held outside of treasury (FHOT), grants, and closeout procedures to maintain compliance and financial integrity
Strengthen communication and accountability by issuing clear written guidance on roles and responsibilities for remaining personnel and establishing a simple escalation process for unresolved control issues