Results of the Audit of the United States Nuclear Regulatory Commission's Financial Statements for Fiscal Year 2008
Ensure the NRC’s long term plans for replacing the core financial management system evaluate the system requirements for recording accounts payable and related accrued expenses at the transaction level.
Document the NRC’s policies and procedures for calculating, estimating and recording accounts payable for the largest obligations quarterly.
Consider the accounts payable process a high risk area in connection with the agency’s management control program and conduct reviews and testing of the interim quarters for FY 2009 accordingly.
Establish historical relationships between accrued expenses and unliquidated obligation levels that may support near term calculations of accounts payable and related accrued expenses.