FCC Sends USAC New Recommendations

The Federal Communications Commission sent the Universal Service Administrative Company recommendations from KPMG, a firm that audited the FCC's financial statements for fiscal years 2009 and 2010.

KPMG recommends:

• FCC and USAC management should update and reinforce policies and procedures over budgetary transactions to provide a consistent and adequate review over upward and downward adjustments to prior year obligations; and
• FCC and USAC management should ensure that USAC personnel that are directly involved with the recording and review of budgetary transactions receive additional training on budgetary accounting requirements.