Treasury OIG: IT deficiencies found in BFS information systems

“A new audit report released by the Treasury Department’s Office of Inspector General (OIG) has found deficiencies in the agency’s IT controls related to cash management and federal debt information systems.

The audit report – dated Dec. 30, 2020, and covering Fiscal Years 2019 and 2020 – says most of the IT problems were found in the agency’s cash management systems, including nine unresolved or new issues with that management system. The audit also provides an update on how the Internal Revenue Service (IRS) is doing on modernizing its IT systems during the coronavirus pandemic.

‘The Bureau of the Fiscal Service (Fiscal Service) relies on many information systems to manage government-wide cash and the federal debt. Fiscal Service made progress towards remediating prior-year information system control deficiencies,’ the report says. ‘However, Fiscal Service had unresolved and newly identified control deficiencies related to its general information technology controls over the government-wide cash and federal debt information systems.’

Among the shortfalls noted in the cash management system, the OIG audit cites that Fiscal Service ‘did not provide reasonable assurance’ that accounts were reviewed for compliance purposes, that systems were safe from unauthorized changes or losses, and that any potential security liabilities were investigated and fixed or addressed in a timely manner…” Read the full article here.

Source: Treasury OIG Audit Finds IT Deficiencies – By Lamar Johnson, January 6, 2021. MeriTalk.


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