Financial management (11 - 20 of 588 items)
Senate Preservation Fund: Audit of Fiscal Years 2011 and 2012 Transactions
GAO-13-490R: Published: May 1, 2013. Publicly Released: May 1, 2013.
For fiscal years 2011 and 2012, the Senate Preservation Funds (Fund) recorded transactions consisted of 22 investment and operating transactions. The Funds recorded transactions were authorized in advance, supported by documentation, accurately accounted for, and in compliance with the applicable laws that GAO deemed significant to its audit objectives.GAO also found that the Senate Co...
Financial Audit: Office of Financial Stability (Troubled Asset Relief Program) Fiscal Years 2012 and 2011 Financial Statements
GAO-13-126R: Published: Nov 9, 2012. Publicly Released: Nov 9, 2012.
GAO found (1) the financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles; (2) the Office of Financial Stability (OFS) maintained, in all material respects, effective internal control over financial reporting as of September 30, 2012; and (3) no reportable noncompliance in fiscal year 2012 with provisions of laws and reg...
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-12-424R: Published: Apr 13, 2012. Publicly Released: Apr 13, 2012.
In our audit of SECs fiscal years 2011 and 2010 financial statements, we identified four significant deficiencies in internal control as of September 30, 2011. These significant internal control deficiencies represent continuing deficiencies concerning controls over (1) information systems, (2) financial reporting and accounting processes, (3) budgetary resources, and (4) registrant deposits...
Financial Audit: Federal Housing Finance Agency's Fiscal Years 2011 and 2010 Financial Statements [Reissued on January 26, 2012]
GAO-12-161: Published: Nov 15, 2011. Publicly Released: Nov 15, 2011.
In GAO’s opinion, FHFA’s fiscal years 2011 and 2010 financial statements are fairly presented in all material respects. GAO also concluded that FHFA had effective internal control over financial reporting as of September 30, 2011. GAO found no reportable instances of noncompliance with the laws and regulations it tested.FHFA's fiscal year 2011 financial statements include costs for the FHFA Of...
Financial Audit: Securities and Exchange Commission's Financial Statements for Fiscal Years 2011 and 2010
GAO-12-219: Published: Nov 15, 2011. Publicly Released: Nov 15, 2011.
Pursuant to the Accountability of Tax Dollars Act of 2002, the United States Securities and Exchange Commission (SEC) is required to prepare and submit to Congress and the Office of Management and Budget audited financial statements. Pursuant to the Securities Exchange Act of 1934, amended in 2010 by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), SEC is also requir...
Financial Audit: Office of Financial Stability (Troubled Asset Relief Program) Fiscal Years 2011 and 2010 Financial Statements
GAO-12-169: Published: Nov 10, 2011. Publicly Released: Nov 10, 2011.
On October 3, 2008, the Emergency Economic Stabilization Act of 2008 (EESA) was signed into law. EESA authorized the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP) and established the Office of Financial Stability (OFS) within the Department of the Treasury (Treasury) to do so. EESA requires the annual preparation of financial statements for TARP, and further requi...
Capitol Preservation Fund: Audit of Fiscal Years 2008 through 2010 Transactions
GAO-12-85R: Published: Oct 14, 2011. Publicly Released: Oct 14, 2011.
In November 1988, the Capitol Preservation Commission (Commission) was established for the purpose of providing for improvements in, preservation of, and acquisitions for the United States Capitol. At the same time, the Capitol Preservation Fund (Fund) was established within the U.S. Treasury (Treasury) and was made available to the Commission to provide financing for the Commission to carry out i...
DOD Financial Management: Weaknesses in Controls over the Use of Public Funds and Related Improper Payments
GAO-11-950T: Published: Sep 22, 2011. Publicly Released: Sep 22, 2011.
The Department of Defense (DOD) is required to design and implement effective internal controls, including controls over its use of public funds ("funds controls") and controls over its payment processes ("payment controls"). As a steward of the public's resources, DOD is responsible and accountable for (1) using public funds efficiently and effectively and for the purposes and within the time fra...
DOD Financial Management: Ongoing Challenges in Implementing the Financial Improvement and Audit Readiness Plan
GAO-11-932T: Published: Sep 15, 2011. Publicly Released: Sep 15, 2011.
The Department of Defense (DOD) has initiated several efforts over the years to address its long-standing financial management weaknesses and ultimately achieve unqualified (clean) opinions on its financial statements. In 2005, the DOD Comptroller first issued the Financial Improvement and Audit Readiness (FIAR) Plan for improving financial management and reporting. In May 2010, the DOD Comptrolle...