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An audit was made of the Export-Import Bank's (Eximbank) fiscal year 1975 statements. The following areas were covered: long-range automatic data processing (ADP) plan, need for offsite storage facilities and disaster recovery plan, potential for reducing interest expense, and need for internal audit staff.

A steering committee with the active participation of top management and user management is a necessary prerequisite to preparing a long-range ADP plan to include: objectives; manpower requirements, personnel responsible for system development, programming, testing, and data conversion; and estimated completion dates for segments of development. Eximbank does not maintain offsite storage facilities for backup computer data files and computer programs, and all source documents and computer files are at the Bank's headquarters. A fire or other disaster could present problems for the continued day-to-day operation of Eximbank. Eximbank is incurring unnecessary interest expense due to the time lapse between the deposit of obligor loan payments in commercial banks and the time Eximbank becomes aware the funds are available and can use them to meet loan commitments or to reduce borrowings.