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Federal agency accounting systems (21 - 30 of 383 items)
FASAB: Change in Certain Requirements for Reconciling Obligations and Net Cost of Operations: Amendment of SFFAS 7, Accounting for Revenue and Other Financing Sources
A00901: Apr 1, 2001
The Federal Accounting Standards Advisory Board published an exposure draft of a proposed statement of federal accounting standards. This standard amends the Statement of Federal Financial Accounting Standards 7 by deleting a requirement regarding an element of reconciling budgetary and financial accounting information...
Centers for Disease Control and Prevention: Independent Accountants Identify Financial Management Weaknesses
GAO-01-40: Published: Nov 15, 2000. Publicly Released: Dec 15, 2000.
This report documents GAO's concurrence with the findings of PricewaterhouseCoopers' (PwC) report on the Centers for Disease Control and Prevention's (CDC) financial management operations. To effectively monitor and evaluate PwC's work, GAO reviewed PwC's methodology for conducting its work, its collection techniques, resulting analysis, and the draft and final reports. Overall, PwC found signific...
Financial Audit: District of Columbia Highway Trust Fund's Fiscal Year 1999 and 1998 Financial Statements
GAO-01-41: Published: Oct 31, 2000. Publicly Released: Oct 31, 2000.
GAO audited the financial statements of the District of Columbia's Highway Trust Fund for fiscal years 1999 and 1998. GAO found that the District did not maintain effective internal control over financial reporting related to its Highway Trust Fund as of September 30, 1999. Material weaknesses affected accounting for expenditures and computer system general controls...
Financial Management: Impact of RUS' Electricity Loan Restructurings
AIMD-00-288: Published: Sep 29, 2000. Publicly Released: Oct 30, 2000.
Pursuant to a congressional request, GAO reviewed the Rural Utilities Service's (RUS) electricity loan restructurings, focusing on: (1) RUS' policies and procedures for restructuring financially troubled generation and transmission (G&T) loans and whether these are being consistently followed; (2) whether RUS properly carried out loan restructurings in accordance with criteria defined in the Feder...
Department of Education: Status of Financial Management Weaknesses Reported in the Fiscal Year 1999 Financial Statement Audit
GAO-01-104R: Published: Oct 16, 2000. Publicly Released: Oct 26, 2000.
This correspondence discusses financial weaknesses reported in the Department of Education's fiscal year 1999 financial statement audit. A major area needing improvement involves internal controls, which provide the framework for the accomplishment of management objectives, accurate financial reporting, and compliance with laws and regulations. This lack of good internal controls puts Education at...
Federal Accounting and Reporting: Framework for Assessing the Reliability of Budget Execution Data Is Not Yet Fully Implemented
GAO-01-43: Published: Oct 6, 2000. Publicly Released: Oct 6, 2000.
Beginning with fiscal year (FY) 1998, federal agencies were required to prepare a Statement of Budgetary Resources (SBR) as one of their primary financial statements. GAO's review of 22 major budgetary accounts at 10 agencies, constituting approximately 77 percent of FY 1999 net outlays, showed that the federal accounting and reporting framework was properly implemented for 14 accounts constitutin...
Financial Management: Census Monitoring Board Disbursements, Internal Control Weaknesses, and Other Matters
AIMD-00-317: Published: Sep 29, 2000. Publicly Released: Sep 29, 2000.
Pursuant to a congressional request, GAO reviewed the financial management of the Census Monitoring Board (CMB), focusing on: (1) information on seven specific matters contained in congressional requests; (2) an audit relating to all CMB out-of-town travel disbursements and all other financial transactions over $200 from CMB's inception in June 1998 through March 31, 2000, which resulted in GAO au...
Financial Management: Review of Education's Grantback Account
AIMD-00-228: Published: Aug 18, 2000. Publicly Released: Aug 18, 2000.
Pursuant to a congressional request, GAO reviewed the Department of Education's grantback account.GAO noted that: (1) as a result of financial management system deficiencies, inadequate systems of funds control, and manual internal control weaknesses that GAO and other auditors have identified and the manner in which the grantback account was used, there is increased risk of fraud, waste, and mism...
Internal Controls: Disbursement Processing Controls Need Improvement
AIMD-00-236R: Published: Aug 7, 2000. Publicly Released: Aug 7, 2000.
Pursuant to a legislative requirement, GAO provided information on the Financial Management Service's (FMS) controls over safeguarding of assets and documenting disbursements and reconciliation of reports as well as the results of previously suggested improvements.GAO noted that: (1) testing of manual controls and procedures indicated weaknesses related to the safeguarding of vulnerable negotiable...
Department of Defense: Implications of Financial Management Issues
T-AIMD/NSIAD-00-264: Published: Jul 20, 2000. Publicly Released: Jul 20, 2000.
Pursuant to a congressional request, GAO discussed financial management issues at the Department of Defense (DOD).GAO noted that: (1) to date no major part of DOD has yet been able to pass the test of an independent audit--auditors consistently have issued disclaimers of opinion because of pervasive weaknesses in DOD's financial management systems, operations, and controls; (2) such problems led G...