GAO’s Key Recommendations for SBA Management Improvements

March 7, 2024

Delaney Sexton
Contributing Editor

GAO’s Key Recommendations for SBA Management Improvements

During the Government Accountability Office’s testimony before the House Committee on Small Business, they focused on four areas that SBA needed to improve. The GAO cited 23 recommendations as key recommendations.

SBA fully addressed 10 key recommendations in the following areas:

• PPP Oversight – At the end of fiscal year 2023, SBA’s use of additional safeguards resulted in more than $12 billion in savings.
• Assessment of Fraud Risks – SBA conducted a formal fraud assessment and developed a strategy to manage fraud risks for each program.

13 remaining key recommendations fall under the following areas:

• Enhancing Data Analytics – SBA needs to identify data that could help verify applicant information and detect potential fraud. It is also recommended that SBA develop cross-program data analytics to identify applicants who tried to defraud multiple programs.
• Addressing Access Barriers – The GAO recommends that SBA work with two other agencies to implement an interagency plan to address equity issues.

Source:
GAO Highlights