The State Board of Administration (SBA) uses the PeopleSoft Financials System to manage and record its financial activities.  Our audit focused on evaluating selected information technology (IT) functions and determining the effectiveness of general and application controls during the period September 1, 2004, through January 31, 2005, including selected actions taken from July 1, 2003.  Our primary focus was on controls related to the PeopleSoft General Ledger Module, the Module’s interfaces with corresponding systems, and its supporting network.  The General Ledger Module of the Financials System is used to journalize and summarize financial activities.

The results of our audit are summarized below:

Finding No. 1:  SBA’s business continuity plan was under development and did not contain all the elements needed to ensure the continued performance of all the organization’s mission essential functions. 

Finding No. 2:  SBA did not maintain current formal policies and procedures pertaining to various functions within the IT environment. 

Finding No. 3:  PeopleSoft Financials application program change controls needed improvement.

Finding No. 4:  Deficiencies were noted in the administration of access privileges within the PeopleSoft Financials application. 

Finding No. 5:  Improvements were needed in certain security controls protecting the PeopleSoft Financials System and its supporting network environment, in addition to matters discussed in Findings No. 2, 3, and 4.

The Executive Director's response can be viewed in its entirety on the Auditor General Web site.