Audit of USAID's Development Credit Authority

OFFICE OF INSPECTOR GENERALAUDIT OF USAID’S DEVELOPMENT CREDIT AUTHORITY AUDIT REPORT NO. 9-000-06-009-P SEPTEMBER 25, 2006 WASHINGTON, DCOffice of Inspector General September 25, 2006 MEMORANDUM TO: EGAT/DC Director, John E. Wasielewski FROM: IG/A/PA Director, Steven H. Bernstein /s/ SUBJECT: Audit of USAID’s Development Credit Authority (Report No. 9-000-06-009-P) This memorandum transmits the final report on the subject audit. This report summarizes the audit work conducted at USAID offices in Washington, D.C. and at five USAID missions. In finalizing this report, we considered your comments on our draft report and have included them, in their entirety, in Appendix II. This report contains four recommendations to strengthen USAID’s management of its DCA guarantees. In your comments on our draft report, you concurred with all four recommendations and described planned actions to address our concerns. As a result, management decisions have been reached on all four recommendations. I want to express my sincere appreciation to you and your staff for your cooperation and courtesy throughout this audit. U.S. Agency for International Development 1300 Pennsylvania Avenue, NW Washington, DC 20523 www.usaid.gov CONTENTSSummary of Results ....................................................................................................... 1 Background ................................................................................ ...