AUDIT OF USAID GUATEMALA’S DEVELOPMENT CREDIT AUTHORITY, AUDIT REPORT NO. 1-520-06-002-P, January

OFFICE OF INSPECTOR GENERAL AUDIT OF USAID/GUATEMALA’S DEVELOPMENT CREDIT AUTHORITY AUDIT REPORT NO. 1-520-06-002-P January 11, 2006 SAN SALVADOR, EL SALVADOR Office of Inspector General January 11, 2006 MEMORANDUM TO: USAID/Guatemala Director, Glenn E. Anders FROM: RIG/San Salvador, Timothy E. Cox “/s/” SUBJECT: Audit of USAID/Guatemala’s Development Credit Authority (Report No. 1-520-06-002-P) This memorandum transmits our final report on the subject audit. In finalizing our report, we considered your comments on our draft report and have included your response in its entirety in Appendix II. This report contains two recommendations. For both recommendations, USAID/Guatemala has provided evidence that final action has been taken, including establishing performance indicators and targets in its Performance Monitoring Plan that are achievable and realistic and obtaining from Genesis an action plan that includes a timeline and steps needed to utilize its bond guarantee agreement. Based on this action plan, the Mission decided to extend the Genesis guarantee by one year to December 31, 2006. I appreciate the cooperation and courtesy extended to my staff throughout the audit. U.S. Agency for International Development Regional Inspector General/San Salvador Unit 3110; APO, AA 34023 Tel (503) 2228-5457 - Fax (503) 2228-5459 CONTENTS Summary of ...