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Auditing and Financial Management (151 - 160 of 9,716 items)
Farm Programs: USDA Needs to Do More to Prevent Improper Payments to Deceased Individuals
GAO-13-503: Published: Jun 28, 2013. Publicly Released: Jul 29, 2013.
Since 2007, the Department of Agriculture's (USDA) Farm Service Agency (FSA), which administers various programs for farmers that help support farm incomes and provide disaster assistance, has established procedures for preventing improper payments to deceased individuals, including, on a quarterly basis, matching payments to program participants with the Social Security Administration's (SSA) dat...
Insurance Markets: Impacts of and Regulatory Response to the 2007-2009 Financial Crisis
GAO-13-583: Published: Jun 27, 2013. Publicly Released: Jul 29, 2013.
The effects of the financial crisis on insurers and policyholders were generally limited, with a few exceptions. While some insurers experienced capital and liquidity pressures in 2008, their capital levels had recovered by the end of 2009. Net income also dropped but recovered somewhat in 2009. Effects on insurers' investments, underwriting performance, and premium revenues were also limited. How...
Medicare: Ownership Status of Inpatient Prospective Payment System Hospitals That Qualify for Payment Adjustments
GAO-13-667R: Published: Jun 27, 2013. Publicly Released: Jul 29, 2013.
GAO previously reported that, in 2012, upward payment adjustments affected the vast majority of hospitals paid under Medicare's inpatient prospective system (IPPS). (See GAO-13-334). For this report, GAO found that, of the 3,455 IPPS hospitals in the prior review, the proportion of hospitals qualifying for at least one of four categories of payment adjustments was higher among nonprofit and govern...
National Transportation Safety Board: Management and Operational Improvements Found, but Strategy Needed to Utilize Cost Accounting System
GAO-13-611: Published: Jul 24, 2013. Publicly Released: Jul 24, 2013.
GAOs analysis found varying degrees of improvement associated with the National Transportation Safety Boards (NTSB) actions in areas selected for review. Training Center utilization. NTSB increased utilization of its Training Centerboth non-classroom and classroom spacesince 2006. NTSB has also set and achieved its cost recovery goal at the Training Center in the last 2 fiscal years, all...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2012 and 2011
GAO-13-641: Published: Jul 19, 2013. Publicly Released: Jul 19, 2013.
In GAO's opinion, the financial statements of the American Battle Monuments Commission (the Commission) as of September 30, 2012 and 2011, and for the fiscal years then ended, are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles. However, GAO found two material weaknesses that resulted in ineffective internal control over financial report...
Transit Asset Management: Additional Research on Capital Investment Effects Could Help Transit Agencies Optimize Funding
GAO-13-571: Published: Jul 11, 2013. Publicly Released: Jul 11, 2013.
To prioritize capital investments, selected transit agencies we reviewed follow some leading practices in the areas of planning, information and data systems, and ranking capital projects. For example, several agencies have developed asset inventories that provide accessible, consistent, and comprehensive information about their assets. One agency also incorporated asset condition data into its as...
Financial and Performance Management: More Reliable and Complete Information Needed to Address Federal Management and Fiscal Challenges
GAO-13-752T: Published: Jul 10, 2013. Publicly Released: Jul 10, 2013.
Three long-standing major impediments prevented GAO from expressing an opinion on the U.S. government's 2012 accrual-based consolidated financial statements: (1) serious financial management problems at the Department of Defense (DOD), (2) the federal government's inability to adequately account for and reconcile intragovernmental activity and balances between federal entities, and (3) the federal...
Investment Advisers: Requirements and Costs Associated with the Custody Rule
GAO-13-569: Published: Jul 8, 2013. Publicly Released: Jul 8, 2013.
Designed to safeguard client assets, the Securities and Exchange Commission's(SEC) rule governing advisers' custody of client assets (custody rule) imposes various requirements and, in turn, costs on investment advisers. To protect investors, the rule requires advisers that have custody to (1) use qualified custodians (e.g., banks or broker-dealers) to hold client assets and (2) have a reasonable...
Troubled Asset Relief Program: Treasury's Use of Auctions to Exit the Capital Purchase Program
GAO-13-630: Published: Jul 8, 2013. Publicly Released: Jul 8, 2013.
The U.S. Department of the Treasury (Treasury) has increasingly used auctions to sell its Capital Purchase Program (CPP) investments. Initially, Treasury relied primarily on financial institutions redeeming their shares to wind down the program. However, in March 2012 Treasury began using auctions to exit CPP, and more institutions have exited the program through auctions than through any other me...
Internal Controls: SEC Should Consider Requiring Companies to Disclose Whether They Obtained an Auditor Attestation
GAO-13-582: Published: Jul 3, 2013. Publicly Released: Jul 3, 2013.
Since the implementation of the auditor attestation requirement of the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley Act), companies exempt from the requirement have had more financial restatements (a company's revision of publicly reported financial information) than nonexempt companies, and the percentage of exempt companies restating generally has exceeded that of nonexempt companies. Exempt and n...