Audit of the Inter-American Foundation’s Implementation of the Government Performance and Results

OFFICE OF INSPECTOR GENERAL AUDIT OF THE INTER-AMERICAN FOUNDATION’S IMPLEMENTATION OF THE GOVERNMENT PERFORMANCE AND RESULTS ACT AUDIT REPORT NO. 9-000-08-003-P December 31, 2007 WASHINGTON, DC Office of Inspector General December 31, 2007 Larry Palmer President Inter-American Foundation 901 N. Stuart Street 10th Floor Arlington, VA 22203 Dear Mr. Palmer: This letter transmits our final report on the subject audit. The report includes two recommendations: one to strengthen the Inter-American Foundation’s monitoring of grant-funded assets and one to reduce grantee’s risk of abuse and conflict of interest. Based on your comments to our draft report, we consider that management decisions have been reached on both recommendations and that final action is pending. The Foundation’s audit committee must determine when final action has been achieved on these recommendations, and we ask to be notified of the committee’s actions. Your management comments are included in their entirety as Appendix II to this report. I appreciate the cooperation and courtesy extended to my staff during the audit. Sincerely, Steven H. Bernstein Director, Performance Audits Division U.S. Agency for International Development 1300 Pennsylvania Avenue, NW Washington, DC 20523 www.usaid.gov CONTENTS Summary of Results ............................................................................. ...