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Auditing and Financial Management (141 - 150 of 9,717 items)
Biomedical Research: NIH Should Assess the Impact of Growth in Indirect Costs on Its Mission
GAO-13-760: Published: Sep 24, 2013. Publicly Released: Oct 31, 2013.
From fiscal year 2002 to fiscal year 2012, indirect cost reimbursements from the National Institutes of Health (NIH) to universities increased slightly faster than those for direct costs, but increased notably faster during some periods. Specifically, from fiscal years 2002 to 2012, indirect costs increased 28.1 percent while direct costs increased 27.0 percent. However, for the fiscal years 2003...
Security Clearances: Additional Mechanisms May Aid Federal Tax-Debt Detection
GAO-13-733: Published: Sep 10, 2013. Publicly Released: Oct 31, 2013.
About 8,400 individuals adjudicated as eligible for a security clearance from April 2006 to December 2011 owed approximately $85 million in unpaid federal taxes, as of June 2012. This represents about 3.4 percent of the civilian executive-branch employees and contractors who were favorably adjudicated during that period. GAO found that about 4,700 of the approximately 8,400 individuals were federa...
Troubled Asset Relief Program: Status of Treasury's Investments in General Motors and Ally Financial
GAO-14-6: Published: Oct 29, 2013. Publicly Released: Oct 29, 2013.
Since receiving federal assistance, General Motors Company (GM) has shown increasingly positive financial results. For each of the past 3 years, GM has reported profits, positive and growing operational cash flow, and a stable liquidity position. This improved financial performance has been reflected in GM's credit rating, as each of the three largest credit rating agencies has increased GM's long...
Federal User Fees: Fee Design Options and Implications for Managing Revenue Instability
GAO-13-820: Published: Sep 30, 2013. Publicly Released: Sep 30, 2013.
GAO identified six key fee design decisions related to how fees are set, used, and reviewed that, in the aggregate, enable Congress to design fees that strike the desired balance between agency flexibility and congressional control. For example, narrowly limiting the activities for which fees may be used heightens congressional control over the funds; however, doing so can also reduce an agency's...
Performance Auditing: The Experiences of the United States Government Accountability Office
GAO-13-868T: Published: Sep 25, 2013. Publicly Released: Sep 25, 2013.
Performance audits as well as traditional financial and compliance audits are essential tools that national audit offices have to help their respective governments identify and address challenging national and global problems. Performance auditing provides objective analysis so that management and those charged with governance and oversight can use the information to improve program performance an...
Corporate Tax Compliance: IRS Should Determine Whether Its Streamlined Corporate Audit Process Is Meeting Its Goals
GAO-13-662: Published: Aug 22, 2013. Publicly Released: Sep 23, 2013.
Officials GAO interviewed inside and outside of the Internal Revenue Service (IRS) generally agreed on the potential major benefits of the Compliance Assurance Process (CAP) to taxpayers and IRS as reflected in its goals. These goals include saving IRS time and resources to use for other audits while ensuring compliance, and reducing taxpayer burden while increasing certainty on tax amounts now ow...
Troubled Asset Relief Program: GAO's Oversight of the Troubled Asset Relief Program Activities
GAO-13-840R: Published: Sep 6, 2013. Publicly Released: Sep 6, 2013.
GAO's oversight has been comprehensive. To date, we have issued 65 products on the Troubled Asset Relief Programs (TARP) and activities and we have made 99 performance and financial statement audit recommendations. Our reviews have focused on several key areas, including the activities initiated under TARP and the challenges encountered in implementing them, Treasury's process for deciding how to...
DOD Financial Management: Ineffective Risk Management Could Impair Progress toward Audit-Ready Financial Statements
GAO-13-123: Published: Aug 2, 2013. Publicly Released: Sep 3, 2013.
The Department of Defense (DOD) has taken some actions to manage its department-level risks associated with preparing auditable financial statements through its Financial Improvement and Audit Readiness (FIAR) Plan. However, its actions were not fully in accordance with widely recognized guiding principles for effective risk management, which include (1) identifying risks that could prevent it fro...
Standards For Internal Control In The Federal Government: 2013 Exposure Draft
GAO-13-830SP: Published: Sep 3, 2013. Publicly Released: Sep 3, 2013.
Internal control is the plans, methods, policies, and procedures an organization employs to ensure effective resource use in fulfilling its mission, goals, objectives, and strategic plan. GAO's Standards for Internal Control in the Federal Government, known as the Green Book, sets these standards for federal agencies.The Green Book Exposure Draft proposes revisions to the standards for internal co...
Army and Marine Corps Training: Better Performance and Cost Data Needed to More Fully Assess Simulation-Based Efforts
GAO-13-698: Published: Aug 22, 2013. Publicly Released: Aug 22, 2013.
Over the past several decades, the Army and Marine Corps have increased their use of simulation-based training--simulators and computer-based simulations. Historically, the aviation communities in both services have used simulators to train servicemembers in tasks such as takeoffs, and emergency procedures that could not be taught safely live. In contrast, the services' ground communities used lim...