Nonfederal audit of Chad private enterprise development project no. 698-0502

Audit report was prepared by Price Waterhouse and is based on review of relevant project documentation and financial records. The audit revealed that for the period 7/1/84-12/31/86 project expenditures were correctly recorded by the cooperating agency, Volunteers in Technical Assistance (VITA), and were in compliance with the cooperating agreement. However, there were several areas where internal controls could be strengthened. Accordingly, it is recommended that VITA: reconcile the loan fund account quarterly; report and analyze delinquent loans; update personnel records; and file quarterly reports promptly. Action on these recommendations has been initiated. (Author abstract, modified)