Political Quotes

“here is the quote out of the Ernst and Young report on internal control fiscal year 1999 audit of the Department of Education: ``During testing of grant expenditures for the Impact Aid grant program,'' which is the program that affected the school districts of the gentleman from South Dakota (Mr. Thune), ``which incurred approximately $1 billion of expenditures during fiscal year 1999, we,'' that is Ernst and Young, ``noted that two individuals were able to process drawdown requests for funds and then subsequently approve their own processing of the drawdown request. Furthermore, we noted that several other individuals performed incompatible functions in the processing of Impact Aid payments. For example, certain individuals have the authority to initiate payment requests, approve payment requests, and subsequently batch the requests and authorize payment by the finance department. Inadequate segregation of duties in sensitive areas such as payment processing can greatly increase the risk of errors or irregularities.''”