Audit of the Corporation for National and Community Service’s (CNCS) Fiscal Year 2018 Consolidated Financial Statements
Open Recommendations
Strengthen and refine the process for holding contractors accountable for remediation of control deficiencies in CNCS information systems.
Pending since FY 2017
Implement all detailed recommendations in the FY 2018 FISMA Evaluation report.
Pending since FY 2017
Reconcile the AR subsidiary ledger to the general ledger monthly.
Reevaluate the policies and procedures for calculating the allowance for doubtful accounts. Related policies and procedures should include: (a) CFO Office’s staff’s periodic review of the accounts receivable aging report, (b) assessment of the collectability of outstanding balances based on the age of the debt, collections attempted and received thus far and other information about the debtor and (c) determination for possible write‐offs.
Revise the Allowance for Doubtful Accounts methodology to be consistent with the Debt Management Policy.
Track and revise collection efforts based on data analysis. A reasonable timeframe for writeoffs should be established for accounts receivable without any activity. Once an outstanding receivable is deemed uncollectible, it should be written off in accordance with management’s established policy.