Review of Office of Secretary Accounting System, Department of Commerce
Highlights
Problems observed in the Department of Commerce's centralized accounting system are noted and corrective measures are discussed. The accounting system was not being operated in accordance with the approved system design and, as a result, the system was not producing useful financial reports for management. Five of the six Department organizations were not furnishing estimates of program and project costs to the Office of Finance Management. Because of deficiencies in financial reports, some organizations maintained unofficial financial reporting systems to supplement reports prepared by the accounting system. Corrective procedures involved submission of operating cost estimates and plans by all agencies serviced by the Department's centralized accounting system.