Audit reports (21 - 30 of 164 items)
DCAA Audits: Allegations That Certain Audits at Three Locations Did Not Meet Professional Standards Were Substantiated
GAO-08-857: Published: Jul 22, 2008. Publicly Released: Jul 22, 2008.
The Defense Contract Audit Agency (DCAA) under the Department of Defense (DOD) Comptroller plays a critical role in contractor oversight by providing auditing, accounting, and financial advisory services in connection with DOD and other federal agency contracts and subcontracts. DCAA has elected to follow generally accepted government auditing standards (GAGAS). These standards provide guidelines...
Financial Audit: Material Weaknesses in Internal Control over the Processes Used to Prepare the Consolidated Financial Statements of the U.S. Government
GAO-08-748: Published: Jun 17, 2008. Publicly Released: Jun 17, 2008.
For the past 11 years, since GAO's first audit of the consolidated financial statements of the U.S. government (CFS), certain material weaknesses in internal control and in selected accounting and financial reporting practices have prevented GAO from expressing an opinion on the CFS. GAO has consistently reported that the U.S. government did not have adequate systems, controls, and procedures to p...
Inspectors General: Limitations of IG Oversight at the Department of State
GAO-08-135T: Published: Oct 31, 2007. Publicly Released: Oct 31, 2007.
GAO was asked to provide testimony about the effectiveness and reliability of the State Department's Office of Inspector General (State IG). We focused on the independence of the State IG, the use of inspections instead of audits to provide oversight of the department, and the effectiveness of the IG's investigative function. The testimony is based primarily on our March 2007 report, Inspectors Ge...
Single Audit Quality: Actions Needed to Address Persistent Audit Quality Problems
GAO-08-213T: Published: Oct 25, 2007. Publicly Released: Oct 25, 2007.
Federal government grants to state and local governments have risen substantially, from $7 billion in 1960 to almost $450 billion budgeted in 2007. The single audit is an important mechanism of accountability for the use of federal grants by nonprofit organizations as well as state and local governments. However, the quality of single audits conducted under the Single Audit Act, as amended, has be...
Medicare Advantage: Required Audits of Limited Value
GAO-07-945: Published: Jul 30, 2007. Publicly Released: Jul 30, 2007.
In fiscal year 2006, the Centers for Medicare & Medicaid Services (CMS) spent over $51 billion on the Medicare Advantage program, which serves as an alternative to the traditional fee-for-service program. Under the Medicare Advantage program, companies wishing to participate must annually submit bids (effective with contract year 2006) that identify the health services the company will provide to...
Financial Audit: Independent and Special Counsel Expenditures for the Six Months Ended September 30, 2006
GAO-07-531: Published: Mar 30, 2007. Publicly Released: Mar 30, 2007.
This report presents the results of our audits of expenditures reported by one office of independent counsel and one office of special counsel for the 6 months ended September 30, 2006. The Department of Justice and the independent counsels are required under 28 U.S.C. 594 (d)(2), (h) and 596 (c)(1) to report on a semiannual basis the expenditures from a permanent, indefinite appropriation establi...
Financial Audit: Capitol Preservation Fund's Fiscal Years 2005 and 2004 Financial Statements
GAO-07-335: Published: Mar 13, 2007. Publicly Released: Mar 13, 2007.
GAO audited the statements of financial position of the Capitol Preservation Fund (the Fund) as of September 30, 2005, and 2004, and the related statements of activities and cash flows for the fiscal years then ended.We found that (1) the financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles; (2) no material weaknesses...
Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 2006 and 2005
GAO-07-462: Published: Mar 13, 2007. Publicly Released: Mar 13, 2007.
As requested, GAO provided for audits of the financial statements of the U.S. Senate Restaurants Revolving Fund (the Fund) for the fiscal years ended September 30, 2006, and 2005, by contracting with the independent public accounting firm of Clifton Gunderson LLP.In its audit of the Fund, Clifton Gunderson, LLP reported that the financial statements were presented fairly, in all material aspects,...
Government Auditing Standards: January 2007 Revision (Superseded by GAO-07-731G)
GAO-07-162G: Published: Jan 31, 2007. Publicly Released: Jan 31, 2007.
This publication has been superseded by GAO-07-731G, Government Auditing Standards: July 2007 Revision. This is the Government Auditing Standards 2007 version. This document outlines standards that contain requirements for auditor reporting on internal control. This revision supersedes the 2003 revision...
Internal Control: Analysis of Joint Study on Estimating the Costs and Benefits of Rendering Opinions on Internal Control over Financial Reporting in the Federal Environment
GAO-06-255R: Published: Sep 6, 2006. Publicly Released: Sep 6, 2006.
The Department of Homeland Security (DHS) Financial Accountability Act, Public Law Number 108-330, requires DHS management to provide an assertion on the internal control that applies to financial reporting for fiscal year 2005 and to obtain an auditor's opinion on the department's internal control over its financial reporting for fiscal year 2006. The act also directs the Chief Financial Officers...