Auditing procedures (1 - 10 of 199 items)
Financial Audit: Bureau of the Fiscal Service's Fiscal Years 2013 and 2012 Schedules of Federal Debt
GAO-14-173: Published: Dec 12, 2013. Publicly Released: Dec 12, 2013.
In GAO's opinion, the Bureau of the Fiscal Service's (Fiscal Service) Schedules of Federal Debt for fiscal years 2013 and 2012 were fairly presented in all material respects, and although information systems controls could be improved, Fiscal Service maintained, in all material respects, effective internal control over financial reporting relevant to the Schedule of Federal Debt as of September 30...
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...
Status of Open World Exchange Program's Efforts to Strengthen Financial Management and Performance Measurement
GAO-12-1004R: Published: Sep 21, 2012. Publicly Released: Sep 21, 2012.
Since our 2004 report, Open World has taken a number of steps to address our recommendations on financial management controls, and has also generally followed leading financial management practices. For example, to address our recommendations, Open World (1) contracted with an independent public accountant to perform an assessment of its ability to be audited; (2) developed Financial Procedures an...
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-11-348R: Published: Mar 29, 2011. Publicly Released: Mar 29, 2011.
On November 15, 2010, we issued our opinion on the U. S. Securities and Exchange Commission's (SEC) fiscal years 2010 and 2009 financial statements. We also issued our opinion on the effectiveness of SEC's internal controls over financial reporting as of September 30, 2010, and our evaluation of SEC's compliance with selected provisions of laws and regulations during fiscal year 2010. In that repo...
Fiscal Year 2010 U.S. Government Financial Statements: Federal Government Continues to Face Financial Management and Long-Term Fiscal Challenges
GAO-11-363T: Published: Mar 9, 2011. Publicly Released: Mar 9, 2011.
GAO annually audits the consolidated financial statements of the U.S. government. Congress and the President need reliable, useful, and timely financial and performance information to make sound decisions and conduct effective oversight of federal government programs and policies. Over the years, certain material weaknesses in internal control over financial reporting have prevented GAO from expre...
Management Report: Opportunities for Improvements in the Congressional Award Foundation's Internal Controls and Accounting Procedures
GAO-10-964R: Published: Sep 9, 2010. Publicly Released: Sep 9, 2010.
In May 2010, we issued our opinion on the fiscal years 2009 and 2008 financial statements of the Congressional Award Foundation (the Foundation). We also reported on our evaluation of the Foundation's compliance with provisions of selected laws and regulations for the fiscal year ended September 30, 2009, and our consideration of the Foundation's internal control over financial reporting. The Foun...
Financial Audit: Congressional Award Foundation's Fiscal Years 2009 and 2008 Financial Statements
GAO-10-646: Published: May 14, 2010. Publicly Released: May 14, 2010.
This report presents our opinion on the financial statements of the Congressional Award Foundation (the Foundation) for the fiscal years ended September 30, 2009, and 2008. The financial statements are the responsibility of the Foundation. This report also presents the results of our consideration of the Foundation's related internal control. We identified a material internal control weakness in t...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2009 and 2008
GAO-10-399: Published: Mar 1, 2010. Publicly Released: Mar 1, 2010.
In accordance with 36 U.S.C. 2103, GAO is responsible for conducting audits of the agencywide financial statements of the American Battle Monuments Commission (the Commission). GAO audited the financial statements of the Commission for the fiscal years ended September 30, 2009, and 2008. The audits were done to determine whether, in all material respects, (1) the Commission's financial statements...
Financial Audit: IRS's Fiscal Years 2009 and 2008 Financial Statements
GAO-10-176: Published: Nov 10, 2009. Publicly Released: Nov 10, 2009.
Because of the significance of Internal Revenue Service (IRS) collections to overall federal receipts and, in turn, to the consolidated financial statements of the U.S. government, which Government Accountability Office (GAO) is required to audit, and Congress's interest in financial management at IRS, GAO audits IRS's financial statements annually to determine whether (1) the financial statements...
DCAA Audits: Widespread Problems with Audit Quality Require Significant Reform
GAO-09-1009T: Published: Sep 23, 2009. Publicly Released: Sep 23, 2009.
This testimony discusses our recent audit of the Defense Contract Audit Agency's (DCAA) overall management environment and quality assurance structure. DCAA is charged with a critical role in Department of Defense (DOD) contractor oversight by providing auditing, accounting, and financial advisory services in connection with the negotiation, administration, and settlement of contracts and subcontr...