October 10, 2019
On September 18th, the Office of the Inspector General (OIG) released the results of their audit of the Small Business Administration (SBA) processes for suspending and debarring entities. This audit was meant to confirm whether or not SBA’s process was sufficient enough to keep such entities from federal contracts through SBA’s preference contracting programs and small business loans. Entities that are suspended or disbarred are kept on record in the System for Award Management (SAM).
The results of the audit concluded that SBA’s processes were insufficient, and that SAM was not always utilized as it should be when loans were in review. OIG in turn made six recommendations to improve SBA’s process, which SBA agreed to two and made partial agreement to the other four.
To learn more about OIG’s audit of SBA’s processes and resulting action click here.