Export-Import Bank's Financial Disclosure System for Employees and Its Procurement Practices

ID-76-81: Published: Oct 4, 1976. Publicly Released: Oct 4, 1976.

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A review of the financial disclosure system for employees and procurement practices of the Export-Import Bank of the United States (Eximbank) revealed some needs for improvement. Files of financial disclosure statements for fiscal year 1975 were examined to determine whether requirements for filing were met, and a sampling of financial interests was conducted.

Eximbank's regulations generally conform with Civil Service Commission guidelines, but some appearances of conflict of interest exist. Tests disclosed 29 instances in which seven employees were involved in transactions which benefited firms in which they held interests. Inaccuracies and lateness in filing statements were also found. Procurement actions for fiscal years 1973-75 generally complied with requirements.

Recommendation for Executive Action

  1. Status: Closed

    Comments: Please call 202/512-6100 for additional information.

    Recommendation: Review procedures should be strengthened by identification and monitoring of employees with potential conflict of interests. Procedures for prompt collection and timely review and approval of disclosure statements should be established.

    Agency Affected:

 

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