RD533 - Virginia Department of Small Business & Supplier Diversity (SBSD) Review Report – November 30, 2016


Executive Summary:
We have completed an independent assessment and review of the Virginia Small Business Financing Authority (VSBFA) Audit Reports for 2014 and 2015, VSBFA’s Transfers between Funds, the administration of the Small Business Jobs Grant Fund and the administration of the Small Business Investment Grant Fund for the Virginia Department of Small Business and Supplier Diversity. Our assessment procedures were performed to determine the effectiveness of the administration of the referenced programs and their compliance with the Code of Virginia.

Our assessment procedures included interviews with the associated process owners and review and testing of related records and other procedures as determined to be necessary. Our assessment of the referenced programs was designed to document the effectiveness of the administration of the programs and to identify for management any recommendations in the administration of those programs. We believe that the artifacts and supporting documentation that we reviewed on the related programs provided a reasonable basis for our overall assessment on their compliance with the Code, recommendations and conclusion regarding their administration.