The Office of the Comptroller of Puerto Rico issued a qualified opinion on the fiscal operations of the Office of the Commissioner of Financial Institutions (OCIF) related to the contracting of legal, accounting and information systems services. A qualified opinion is issued when noncompliance, individually or in the aggregate, is significant but not pervasive.
The one-finding report notes that the OCIF paid a contractor in excess of the amount established in the contract. From the examination conducted on a sample, a payment of $4,826 in excess of the contracted amount was identified.
This situation, contrary to the law in force, is attributed to the fact that the assistant certified the availability of funds and approved the excess payments retroactively. The excess payment deprived the OCIF of having those funds to cover operational expenses.
The OCIF granted 77 contracts and 27 amendments for professional and consulting services, for more than $3.3 million from July 2014 to February 2019.
This second and final report of the OCIF covers the period from January 1, 2015 to February 28, 2019.
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See Audit Report DA-20-06.
To see other published reports, visit our Audit Reports section.
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