AID's Loan Accounting System

Gao ID: 091300 June 10, 1977

During the course of a recent review of the Agency for International Development's (AID) Loan Program, GAO made a particular effort to assess the progress made in automating loan accounting operations.

All loan accounting has been converted to an automated system and the implementing problems which GAO identified during a prior review have apparently been resolved. These changes have created an automated accounting system which differs significantly from the manual system approved by GAO. Sufficient progress has been made to warrant full documentation of the automated system to replace the existing loan account manual which GAO found that pertains to the older system which no longer exists. There is still a need for periodic internal financial audits of the Loan Program and for regularly recurring independent tests of source data and established procedures.

Recommendations

Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

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