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Auditing and Financial Management (81 - 90 of 9,716 items)
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-15-387R: Published: Apr 30, 2015. Publicly Released: Apr 30, 2015.
During its audit of the U.S. Securities and Exchange Commission’s (SEC) fiscal year 2014 financial statements, GAO identified continuing and new deficiencies in SEC’s financial reporting controls over its accounting for disgorgement and penalty transactions, which contributed to a significant deficiency in SEC’s internal control over financial reporting as of September 30, 2014. This signifi...
Patient-Centered Outcomes Research Institute: Review of the Audit of the Financial Statements for 2014 and 2013
GAO-15-395R: Published: Mar 27, 2015. Publicly Released: Mar 27, 2015.
GAO found that the independent public accountant’s (IPA) audit of the Patient-Centered Outcomes Research Institute’s (PCORI) 2014 and 2013 financial statements was performed in accordance with professional standards, in all material respects. PCORI’s IPA provided an unmodified audit opinion on its 2014 and 2013 financial statements and found that PCORI’s financial statements were presented...
Improper Payments: Government-Wide Estimates and Use of Death Data to Help Prevent Payments to Deceased Individuals
GAO-15-482T: Published: Mar 16, 2015. Publicly Released: Mar 16, 2015.
Government-wide, improper payment estimates totaled $124.7 billion in fiscal year 2014, a significant increase of approximately $19 billion from the prior year's estimate of $105.8 billion. The estimated improper payments for fiscal year 2014 were attributable to 124 programs spread among 22 agencies. The reported government-wide error rate was 4.5 percent of program outlays in fiscal year 2014 co...
Government Efficiency and Effectiveness: Opportunities to Reduce Fragmentation, Overlap, Duplication, and Improper Payments and Achieve Other Financial Benefits
GAO-15-440T: Published: Mar 4, 2015. Publicly Released: Mar 4, 2015.
The executive branch and Congress have made progress in addressing the approximately 440 actions across 180 areas that GAO identified in its past annual reports. These issues span the range of government services and programs, from the Medicare and Medicaid programs to transportation programs to weapon systems acquisitions. As of November 19, 2014, 29 percent of these actions were addressed, 44 pe...
Disaster Relief: Agencies Need to Improve Policies and Procedures for Estimating Improper Payments
GAO-15-209: Published: Feb 27, 2015. Publicly Released: Feb 27, 2015.
The five agencies GAO reviewed used a variety of approaches to estimate and report improper payments related to Disaster Relief Appropriations Act, 2013 (DRAA) funding, in accordance with Office of Management and Budget (OMB) guidance. Specifically, these agencies, which received approximately 94 percent of the $50 billion provided by DRAA, used various approaches regarding the following:Estimate...
Financial Audit: U.S. Government's Fiscal Years 2014 and 2013 Consolidated Financial Statements
GAO-15-341R: Published: Feb 26, 2015. Publicly Released: Feb 26, 2015.
To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government’s fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information—both for individual federal entities and for the federal government as a whole. Further, when fully and effectively im...
Improper Payments: TRICARE Measurement and Reduction Efforts Could Benefit from Adopting Medical Record Reviews
GAO-15-269: Published: Feb 18, 2015. Publicly Released: Feb 18, 2015.
The Defense Health Agency (DHA), the agency within the Department of Defense (DOD) responsible for administering the military health program known as TRICARE, uses a methodology for measuring TRICARE improper payments that is less comprehensive than the methodology used to measure improper payments in Medicare, the federal health care program for the elderly and certain disabled individuals. Both...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2014 and 2013 Financial Statements
GAO-15-289: Published: Feb 12, 2015. Publicly Released: Feb 12, 2015.
In GAO's opinion, the Federal Deposit Insurance Corporation (FDIC) fairly presented, in all material respects, the 2014 and 2013 financial statements for the two funds it administers—the Deposit Insurance Fund (DIF) and the FSLIC Resolution Fund (FRF). Also, in GAO's opinion, FDIC maintained, in all material respects, effective internal control over financial reporting relevant to the DIF and to...
Improper Payments: DOE's Risk Assessments Should Be Strengthened
GAO-15-36: Published: Dec 23, 2014. Publicly Released: Dec 23, 2014.
The Department of Energy (DOE) developed a process to assess its programs for risks of improper payments, but its assessments do not fully evaluate risk. To comply with the Improper Payments Elimination and Recovery Act of 2010 (IPERA), in fiscal year 2011, DOE directed its programs to develop risk assessments using eight qualitative risk factors, such as recent major changes in program funding, a...
Improper Payments: Inspector General Reporting of Agency Compliance under the Improper Payments Elimination and Recovery Act
GAO-15-87R: Published: Dec 9, 2014. Publicly Released: Dec 9, 2014.
For fiscal year 2013, the offices of inspector general (OIG) for 13 of the 24 Chief Financial Officer's Act (CFO Act) agencies reported that their agencies complied with all of the Improper Payments Elimination and Recovery Act of 2010 (IPERA) criteria that were applicable to their agencies. The OIGs for 10 agencies reported that their agencies did not satisfy at least one of the specified criteri...