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Weak Internal Financial Control at USMMA
Thursday, September 10, 2009
The Government Accountability Office (GAO) issued a report of its examination of internal financial controls at the US Merchant Marine Academy (USMMA). The report states that internal control weaknesses resulted in improper sources and uses of funds. Some midshipmen fee assessments were unrelated to goods and services provided to the midshipmen. The Academy improperly entered into some sole-source agreements with the Global Maritime and Transportation School (GMATS) and then inappropriately accepted and used GMATS funds. There were questionable billing and payment transactions related to use of the Academy’s training ship Kings Pointer. The report noted that some corrective actions are under way. GAO-09-635 (9/9/09).
(Source: Bryant’s Maritime News)
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