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- Bank reconciliations not completed in a timely manner; unreconciled items accumulated and investigations not performed in a timely manner;
- The Atlas General Ledger system contains numerous incorrect balances dating back to January 2004, is not optimally configured, lacks adequate functionality and formal security measures;
- Overall lack of sufficient resources and limited guidance/guidelines within the Treasury Division ;
- Inadequate or non-existent access controls surrounding Atlas, Treasury shared drives and other relevant Treasury servers;
- Inadequate segregation of duties exists within the Bank Reconciliations, Deposit Operations, Investments Unit and Cash Management processes;
- Very high reliance on the use of Excel spreadsheets for the conduct of Treasury functions and duties;
UNDP Watch sources at 21st floor tell us that both Kemal and Ad are running out of control and has demanded that Khoury and OAPR re-write immediately their report and their recommendations they made in 05 Dec 07.
But how are member states reacting to all this ?
We will have to wait and see.
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