OIG Audit: USPS Los Angeles District Unable To Account For Over $1.6 Million In Money Orders

This report presents the results of our audit of financial accountability in the Los Angeles District . We identified internal control deficiencies over stamp, money order, and cash accountability; and financial accounting and reporting. Management at three units did not properly account for 4,204 unrecorded, missing, or old style money orders valued at $1,681,600.9 Postal Service policy requires the postmaster to maintain an accurate inventory of all accountable paper within the postal retail unit. The xxxxxxxxxxxxxxxxxxxxxx attributed these conditions to inadequately trained supervisors, frequent detail assignments, and acting manager assignments. When controls are not functioning as prescribed, there is an increased risk the Postal Service could lose cash, accountable items, and revenue without detection and misstate financial records