Summary of Internal Control Issues Over the Peace Corps' Financial Reporting FY 2019

That the Peace Corps update the reconciliation process to require two-way verification between all source systems and the Odyssey Fixed Assets Module. The reconciliation process should include documentation of steps taken to resolve identified discrepancies.

That the Peace Corps implement a procedure to verify whether the useful life of the capitalized asset is correctly assigned based on the equipment type as stated in the Peace Corps’ policy.

That the Peace Corps require staff with a role in acquiring and recording assets to take annual training.

That the Peace Corps implement a process to ensure that once assets are acquired they are added to Sunflower.

That the Peace Corps perform a reconciliation to ensure all assets purchased for the data center have been received, accounted for, and properly recorded.