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Auditing and Financial Management (1 - 10 of 9,717 items)
Grants Management: Corporation for National and Community Service's Grant Monitoring Process Could Be Improved
GAO-17-528T: Published: Mar 28, 2017. Publicly Released: Mar 28, 2017.
The Corporation for National and Community Service (CNCS) process for monitoring grants is not fully aligned with federal internal controls (see fig.). Risks may go unidentified because CNCSâ€™s assessment process does not include all grants in the year they are first awarded; its scoring model does not assign the riskiest grants the highest priority for monitoring; and its monitoring of granteesâ...
Airport Funding: FAA's and Industry's Cost Estimates for Airport Development
GAO-17-504T: Published: Mar 23, 2017. Publicly Released: Mar 23, 2017.
The Federal Aviation Administration's (FAA) estimate of the costs for planned capital development at airports over the next five years is about $32.5 billion, compared to the Airports Council International-North America's (ACI-NA) estimate of almost $100 billion, both for the period 2017-2021. The difference between these two estimates can be attributed to a number of factors, but most significant...
Department Of Justice: Continued Actions Needed to Enhance Program Efficiency and Resource Management
GAO-17-471T: Published: Mar 21, 2017. Publicly Released: Mar 21, 2017.
DOJ has not fully addressed most GAO recommendations related to its law enforcement activities. The Department of Justice (DOJ) undertakes a number of activities to enforce the law and defend the interests of the United States. Key findings and recommendations from six recent GAO reports include, among other things, that DOJ should: better adhere to policies on collecting firearms data, assess op...
Grants Management: Monitoring Efforts by Corporation for National and Community Service Could Be Improved
GAO-17-90: Published: Mar 21, 2017. Publicly Released: Mar 21, 2017.
The Corporation for National and Community Service (CNCS) assesses its grants before the beginning of each fiscal year and prioritizes its grant monitoring based on the scoring of certain indicators, such as potential performance or financial problems and the length of time since the last compliance visit. For fiscal year 2015, CNCS identified about 2,200 grants for assessment and prioritized 16.4...
National Park Service: Concessions Program Has Made Changes in Several Areas, but Challenges Remain
GAO-17-302: Published: Feb 16, 2017. Publicly Released: Mar 20, 2017.
Have you ever purchased a postcard or eaten a meal at a national park? Chances are you bought it from a concessioner. The National Park Service managed nearly 500 concessions contracts in 2016 that provided visitor services like lodging, food, and retail sales. The Park Service has taken steps to address issues we've previously identified in its concessions program, including a lack of qualified...
Navy Shipbuilding: Need to Document Rationale for the Use of Fixed-Price Incentive Contracts and Study Effectiveness of Added Incentives
GAO-17-211: Published: Mar 1, 2017. Publicly Released: Mar 1, 2017.
Over 80 percent of the Navy's shipbuilding contracts awarded over the past 10 years were fixed-price incentive (FPI). However, GAO found that half of the six selected contracts it reviewed did not document the Navy's justification for selecting this contract type. Moreover, key documents that should describe the rationale for selecting contract elements varied across these contracts. Given the Nav...
Maritime Administration: Proceeds from the Sale of Obsolete Vessels Were Accounted for, Allocated, and Disbursed Consistent with Applicable Law
GAO-17-280: Published: Feb 23, 2017. Publicly Released: Feb 23, 2017.
The Maritime Administration (MARAD) accounted for and allocated about $75.9 million in proceeds from the sale of 90 obsolete vessels from the National Defense Reserve Fleet (NDRF) in fiscal years 2005 through 2015 in the Vessel Operations Revolving Fund (VORF) consistent with applicable law.Required Allocation of Proceeds from the Sale of Obsolete Vessels Maintained in the Vessel Operations Revolv...
Single Audits: Improvements Needed in Selected Agencies' Oversight of Federal Awards
GAO-17-159: Published: Feb 16, 2017. Publicly Released: Feb 16, 2017.
Federal agencies have oversight responsibilities for the funds that they award to nonfederal entities and can assign these responsibilities to their subagencies (i.e., operating units or divisions). Nonfederal entities are required to undergo a single audit if their expenditures of federal awards in a fiscal year exceed a certain threshold. A single audit is an audit of the award recipient's expen...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2016 and 2015 Financial Statements
GAO-17-299R: Published: Feb 15, 2017. Publicly Released: Feb 15, 2017.
GAO found (1) the financial statements of the Deposit Insurance Fund (DIF) and of the Federal Savings and Loan Insurance Corporation (FSLIC) Resolution Fund (FRF) as of and for the years ended December 31, 2016, and 2015, are fairly presented, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) although internal controls could be improved, the Federal De...
DOD Financial Management: Significant Efforts Still Needed for Remediating Audit Readiness Deficiencies
GAO-17-85: Published: Feb 9, 2017. Publicly Released: Feb 9, 2017.
The Schedules of Budgetary Activity (Budgetary Schedules) for the Army, Navy, and Air Force for fiscal year 2015 reflected current year budget activity as an interim step toward producing an auditable Statement of Budgetary Resources that will reflect multiyear budget activity. All three of the independent public accountants (IPA) contracted to audit these fiscal year 2015 Budgetary Schedules issu...