Export-Import Bank's Exporter Insurance Program

ID-83-49: Published: Jul 8, 1983. Publicly Released: Jul 8, 1983.

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GAO reviewed operations at the Foreign Credit Insurance Association (FCIA), which works in partnership with the Export-Import Bank in providing export credit insurance to exporters and banks.

GAO identified weaknesses in control features of the FCIA automated accounting system and a need for increased Eximbank verification of FCIA monthly report data. GAO believes that, although FCIA is scheduled to implement a revised automated accounting system to correct the control weakness, Eximbank should encourage FCIA to adopt interim procedures to correct existing weaknesses. GAO also believes that Eximbank should periodically test FCIA supporting records of premium income and claims payment data shown on monthly FCIA activity reports.

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