Review of TVA's Purchasing Card Program

January 20, 2009

2007-11481

Audit

We reviewed TVA's VISA purchasing card program to (1) identify and assess the operating effectiveness of controls over the program and (2) determine if they incorporate identified best practices. The scope of the project covered all transactions from October 1, 2005, through December 31, 2007. Our review determined:Key internal controls were not functioning as intended with regard to (1) the review of purchasing card transactions and their supporting documentation and (2) transaction limits.Certain purchases were made that were disallowed by TVA policy or questionable in nature.TVA's purchasing card program incorporates some best practices, but key best practices were absent.TVA employees were not reporting all instances of known or suspected waste, fraud, and abuse or violation of law to the OIG as required by Business Practice 2.Management agreed with most findings and recommendations and has initiated or plans to initiate corrective action

Yes

Yes (agency-wide)

$0

$0