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Open Recommendations (9 total)

Federal Housing Finance Agency: Improvements Needed in Controls over Management Reviews and Information Systems Access

GAO-24-107219
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1 Open Recommendations
Agency Affected Recommendation Status
Federal Housing Finance Agency The Director of FHFA should direct the appropriate management officials to update existing policy for obtaining FPPS access to clearly describe (1) the process and procedures that staff should follow to request access, (2) the nature and extent of access rights appropriate for each employee's position, and (3) the documentation FHFA should maintain as evidence that the designated approving official granted the access. (Recommendation 2)
Open
In its comments on our draft report, FHFA stated that it agreed with our recommendation and described actions it plans to take to address information systems access. FHFA stated that the estimated completion date is June 30, 2024. We will evaluate the effectiveness of FHFA's efforts on this recommendation during our audit of its fiscal year 2024 financial statements.

Federal Housing Finance Agency Office of Inspector General: Improvements Needed in Review Procedures for Payroll Accounting

GAO-24-107430
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1 Open Recommendations
Agency Affected Recommendation Status
Federal Housing Finance Agency The FHFA Inspector General should direct the appropriate FHFA OIG management officials to develop monitoring procedures to reasonably assure that FHFA OIG staff are effectively reviewing the FHFA OIG quarterly reconciliations to timely identify and resolve intragovernmental differences. (Recommendation 2)
Open
In commenting on our draft report, FHFA OIG stated that it agreed with our recommendation and described actions it has taken to address the review procedures. We will evaluate the effectiveness of FHFA OIG's efforts on this recommendation during our audit of FHFA's fiscal year 2024 financial statements.

Federal Housing Finance Agency: Improvements Needed in Controls over Management Reviews and Information Systems Access

GAO-24-107219
Show
2 Open Recommendations
Agency Affected Recommendation Status
Federal Housing Finance Agency The Director of FHFA should direct the appropriate management officials to develop monitoring procedures to reasonably assure that FHFA personnel follow existing procedures to timely remove information systems access for separated employees. (Recommendation 3)
Open
In its comments on our draft report, FHFA stated that it agreed with our recommendation and described actions it plans to take to address information systems access. FHFA stated that the estimated completion date is June 30, 2024. We will evaluate the effectiveness of FHFA's efforts on this recommendation during our audit of its fiscal year 2024 financial statements.
Federal Housing Finance Agency The Director of FHFA should direct the appropriate management officials to develop sufficiently detailed guidance for how FHFA personnel should review accounting information that FHFA OIG provides for inclusion in FHFA's consolidated financial statements, to detect and timely correct misstatements. (Recommendation 1)
Open
In its comments on our draft report, FHFA stated that it agreed with our recommendation and described actions it plans to take to address management reviews. FHFA stated that the estimated completion date is June 30, 2024. We will evaluate the effectiveness of FHFA's efforts on this recommendation during our audit of its fiscal year 2024 financial statements.

Federal Housing Finance Agency Office of Inspector General: Improvements Needed in Review Procedures for Payroll Accounting

GAO-24-107430
Show
1 Open Recommendations
Agency Affected Recommendation Status
Federal Housing Finance Agency The FHFA Inspector General should direct the appropriate FHFA OIG management officials to develop sufficiently detailed guidance for how FHFA OIG staff should review accounting information it provides to FHFA, for inclusion in FHFA's consolidated financial statements, to prevent misstatements. (Recommendation 1)
Open
In commenting on our draft report, FHFA OIG stated that it agreed with our recommendation and described actions it has taken to address the review procedures. We will evaluate the effectiveness of FHFA OIG's efforts on this recommendation during our audit of FHFA's fiscal year 2024 financial statements.

Management Report: Federal Housing Finance Agency Should Improve Controls over Personnel and Payroll Information

GAO-23-106487
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1 Open Recommendations
Agency Affected Recommendation Status
Federal Housing Finance Agency The Director of FHFA should ensure that the appropriate management officials develop a process to periodically verify that gross cost information in FHFA's financial statements is supported by detailed employee time charges. (Recommendation 3)
Open – Partially Addressed
According to FHFA, its efforts to address this recommendation were ongoing as of September 30, 2023. FHFA updated its payroll oversight procedures (effective August 2023) to include a process for a senior financial management specialist, or designee, within the Office of Budget and Financial Management, to conduct a periodic review of the financial coding information associated with employee time charges and to follow up with the Office of Human Resources Management if any charges are identified that might be erroneous and in need of correction. GAO will evaluate FHFA's efforts to address this recommendation as part of our audit of FHFA's fiscal year 2024 financial statements.

Management Report: Federal Housing Finance Agency Should Improve Controls over Personnel and Payroll Information

GAO-23-106487
Show
3 Open Recommendations
Agency Affected Recommendation Status
Federal Housing Finance Agency The Director of FHFA should ensure that the appropriate management officials undertake a detailed review of existing personnel records to identify and correct errors. (Recommendation 1)
Open – Partially Addressed
According to FHFA, its efforts to address this recommendation were ongoing as of September 30, 2023. FHFA awarded a contract for three contractors to independently conduct a comprehensive review of all FHFA electronic official personnel folders (eOPF). This review includes identifying all errors related to the accuracy and completeness of personnel and payroll actions and their supporting documentation. As errors are identified, the Office of Human Resource Management (OHRM) will be responsible for making the needed corrections. OHRM has developed a project plan and work is under way. GAO will evaluate FHFA's efforts to address this recommendation as part of our audit of FHFA's fiscal year 2024 financial statements.
Federal Housing Finance Agency The Director of FHFA should ensure that appropriate management officials develop a process to reasonably assure that recorded cash award payments match what management authorized as documented on the approved SF 52. (Recommendation 4)
Open – Partially Addressed
According to FHFA, its efforts to address this recommendation were ongoing as of September 30, 2023. FHFA implemented an awards standard operating procedure (effective April 2023), which includes periodic reviews of processed personnel actions, including awards, to verify that personnel actions are correctly documented and coded on the SF 52. FHFA informed us that it has completed a periodic review of all fiscal year 2023 excellence awards. GAO will evaluate FHFA's efforts to address this recommendation as part of our audit of FHFA's fiscal year 2024 financial statements.
Federal Housing Finance Agency The Director of FHFA should ensure that the appropriate management officials develop and implement a process to monitor controls over the recording of benefits information for employees with prior federal service to reasonably assure that these controls are operating as designed. (Recommendation 2)
Open – Partially Addressed
According to FHFA, its efforts to address this recommendation were ongoing as of September 30, 2023. FHFA updated its benefits processing standard operating procedure (effective March 2023) to include a new process. Specifically, it plans to have a senior benefits specialist review a newly hired employee's electronic official personnel folder (including those with prior federal service) and benefits elections within 30 days of receipt to verify that the information is accurate. GAO will evaluate FHFA's efforts to address this recommendation as part of our audit of FHFA's fiscal year 2024 financial statements.
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