FRB Internal Controls

AIMD-96-31R: Jan 18, 1996

Additional Materials:


Shirley A. Jones
(202) 512-8156


Office of Public Affairs
(202) 512-4800

Pursuant to a congressional request, GAO reviewed the 11th District Federal Reserve Bank's (FRB) internal accounting controls. GAO noted that: (1) significant weaknesses exist in Dallas FRB internal controls; (2) Dallas FRB needs to ensure that transactions and accounts are properly recorded, reconciled, verified, and analyzed, the general ledger is accurate and up-to-date, financial statements are complete and informative, generally accepted accounting principles are followed, data and software changes and access to critical financial applications and systems are restricted, key staff duties are segregated, and policies and procedures are formalized and documented; (2) the District branches need to implement policies and procedures to strengthen the computer security monitoring program; and (3) Dallas FRB and its Houston branch need to improve check processing and currency system controls.

Mar 20, 2018

Mar 19, 2018

  • Ampcus, Inc.
    We deny the protest.
  • AMAR Health IT, LLC
    We dismiss the protest because our Office does not have jurisdiction to entertain protests of task orders issued under civilian agency multiple-award, indefinite-delivery, indefinite-quantity (IDIQ) contracts that are valued at less than $10 million.
  • Centurum, Inc.--Costs
    We grant the request.

Mar 15, 2018

  • ORBIS Sibro, Inc.
    We sustain the protest in part and deny it in part.

Mar 14, 2018

Mar 13, 2018

  • Interoperability Clearinghouse
    We dismiss the protest because the protester, a not-for-profit entity, is not an interested party to challenge this sole-source award to an Alaska Native Corporation under the Small Business Administration's (SBA) 8(a) program.
  • Yang Enterprises, Inc.
    We dismiss the protest.

Looking for more? Browse all our products here