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Auditing standards (31 - 40 of 137 items)
Internal Control: Essential for Safeguarding Assets, Compliance With Laws and Regulations, and Reliable Financial Reporting
T-AIMD-98-125: Published: Apr 1, 1998. Publicly Released: Apr 1, 1998.
Pursuant to a congressional request, GAO discussed the subject of internal control, focusing on: (1) what internal control is; (2) its importance; and (3) what happens when it breaks down.GAO noted that: (1) internal control is concerned with stewardship and accountability of resources consumed while striving to accomplish an agency's mission with effective results; (2) although ultimate responsib...
Financial Audit: 1997 Consolidated Financial Statements of the United States Government
AIMD-98-127: Published: Mar 31, 1998. Publicly Released: Mar 31, 1998.
GAO reviewed the 1997 consolidated financial statements of the United States government.GAO noted that: (1) significant financial systems weaknesses, problems with fundamental recordkeeping, incomplete documentation, and weak internal controls, including computer controls, prevent the government from accurately reporting a large portion of its assets, liabilities, and costs; (2) these deficiencies...
Defense Financial Audits Issue Area: Active Assignments
AA-98-23(1): Published: Feb 1, 1998. Publicly Released: Feb 1, 1998.
GAO provided information on its active assignments in the Defense Financial Audits issue area as of February 2, 1998...
Guaranteed Loan System Checklist: Systems Reviewed Under the Federal Financial Management Improvement Act of 1996 (Exposure Draft)
AIMD-98-21.2.7: Published: Dec 1, 1997. Publicly Released: Dec 1, 1997.
GAO published a guide to assist agencies and internal auditors in maintaining their financial management systems in compliance with the Federal Financial Management Improvement Act of 1996...
Federal Information System Controls Audit Manual: Volume I Financial Statement Audits (Exposure Draft) (Superseded by AIMD-12.19.6)
AIMD-12.19.6: Published: Aug 1, 1997. Publicly Released: Aug 1, 1997.
This publication has been superseded by AIMD-12.19.6, Federal Information System Controls Audit Manual: Volume I Financial Statement Audits, January 1999. GAO published a manual to provide auditors guidance for evaluating internal controls over the integrity, confidentiality, and availability of data maintained in computer-based information systems. The manual's sections provide detailed guidance...
Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 1996 and 1995
AIMD-97-93: Published: May 16, 1997. Publicly Released: May 16, 1997.
Pursuant to a congressional request, GAO reviewed the financial statements of the Senate Restaurants Revolving Fund as of September 28, 1996 and September 30, 1995, and for the years then ended. GAO contracted with KPMG Peat Marwick LLP (KPMG) to conduct the audit.GAO noted that: (1) in its audit of the U.S. Senate Restaurants Revolving Fund, KPMG found that: (a) the financial statements were reli...
Financial Audit: Examination of IRS' Fiscal Year 1995 Financial Statements
AIMD-96-101: Published: Jul 11, 1996. Publicly Released: Jul 11, 1996.
Pursuant to a legislative requirement, GAO reviewed the Internal Revenue Service's (IRS) financial statements for fiscal years 1995 and 1994.GAO found that: (1) it could not express an opinion of the 1995 IRS financial statement due to limitations in the scope of its work; (2) the information in the 1995 statement may be unreliable; (3) ongoing financial management problems include IRS inability t...
Federal Reserve Banks: Internal Control, Accounting, and Auditing Issues
AIMD-96-5: Published: Feb 9, 1996. Publicly Released: Mar 11, 1996.
Pursuant to a congressional request, GAO reviewed several internal control issues at the Federal Reserve Bank (FRB) of Dallas and the Federal Reserve Automation Services' (FRAS) accounting procedures, focusing on: (1) Dallas FRB financial accounting and reporting and electronic data processing (EDP) control weaknesses; (2) the efficiency and consistency of Federal Reserve note accounting; and (3)...
Financial Management: Continued Momentum Essential to Achieve CFO Act Goals
T-AIMD-96-10: Published: Dec 14, 1995. Publicly Released: Dec 14, 1995.
GAO discussed the progress being made to implement financial management reforms through the Chief Financial Officers (CFO) Act. GAO noted that improving financial management through implementation of the CFO Act requires: (1) implementing expanded requirements for financial statement audits to improve the reliability of data for decisionmaking; (2) strengthening the efficiency of revenue collectio...