February 8, 2012
Placing Federal Tax Dollars at Risk: How the Small Business Administration Mismanages the Modernization of its Information Technology
The Committee examined the Small Business Administration’s efforts to modernize the computer systems used to manage its loan portfolios. The systems, originally developed in the 1970s, are outdated and multiple administrators determined that they need to be updated. Given the problems plaguing the systems, the Chairman requested the Government Accountability Office (GAO) to review the modernization efforts. This hearing reviewed the GAO audit and hear what steps, if any, the Administrator will take to improve the modernization of its loan management accounting systems.
Opening Statement:Chairman Sam Graves (R-MO)
Witnesses and Testimony: