Date Issued
Report Number
2006-509I
Report Type
Audit
Description
We performed a limited scope review to assess the processes and controls over the sale of TVA assets on eBay, including how eBay is chosen for the sales mechanism, reserves are determined, and payments are received and accounted for. Our review of the TVA Investment Recovery (IR) procedures for eBay sales (eBay Sales), dated December 6, 2005, identified several opportunities for improvement. Specifically, the procedures did not adequately address the minimum acceptable price and payment processes/controls and provided TVA organizations, which may not have IR's expertise, the ability to sell TVA assets on eBay. Management agreed with our findings and has taken or plans to take appropriate corrective actions. Summary Only
Joint Report
Yes
Participating OIG
Tennessee Valley Authority OIG
Agency Wide
Yes (agency-wide)
Questioned Costs
$0
Funds for Better Use
$0