The Office of the Comptroller of Puerto Rico issues a qualified opinion on the fiscal operations related to the internal and administrative controls of the Puerto Rico Infrastructure Financing Authority (AFI).
The Report reveals that, as of December 31, 2016, the Authority did not have regulations to administer the budget, nor regarding the use of motor vehicles. AFI also did not have regulations to govern the pre-intervention and approval processes for construction-service disbursements. This situation, contrary to the law in effect, had already been commented on in Audit Report CP-11-04 of April 4, 2011.
The two-finding audit notes that one regulation and seven procedures of AFI had not been updated to the administrative, operational, and organizational changes. For example, the Purchasing Regulation dates from June 25, 1998 and the Accounting, Property Control, and other Procedures were approved between 2000 and 2004.
Our auditors observed deficiencies in the filing system since, for example, the deposit and purchase-order files were stored in boxes that were sent to the inactive archive at the end of each quarter or when they were filled. The same happened with the binders of the bank reconciliations, which are sent to the inactive archive at the discretion of each accountant. This situation does not allow adequate control to be maintained and fosters the disappearance of documents or that unauthorized persons have access to them.
This Report covers the period from July 1, 2009 to June 30, 2017.
See Audit Report CP-19-02.
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