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Financial management (31 - 40 of 510 items)
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...
Management Letter: Suggested Improvements in IRS' Accounting Procedures and Internal Controls
AIMD-00-162R: Published: Jun 14, 2000. Publicly Released: Jun 14, 2000.
Pursuant to a legislative requirement, GAO provided information on the results of the Internal Revenue Service's (IRS) financial statements and on the effectiveness of its internal controls for fiscal year (FY) ending September 30, 1999.GAO noted that: (1) GAO found weaknesses in IRS' accounting procedures for certain assets purchased in one year but used for a multi year period; (2) IRS corrected...
Financial Audits: American Battle Monuments Commission
T-AIMD-00-211: Published: Jun 6, 2000. Publicly Released: Jun 6, 2000.
Pursuant to a congressional request, GAO discussed the American Battle Monuments Commission's (ABMC) financial statements audits, focusing on: (1) the legislative initiatives that were designed to improve financial management across the federal government; (2) the history of ABMC's financial accountability, focusing specifically on the World War II memorial fund; and (3) the results of GAO's most...
Financial Management: Agencies Face Many Challenges in Meeting the Goals of the Federal Financial Management Improvement Act
T-AIMD-00-178: Published: Jun 6, 2000. Publicly Released: Jun 6, 2000.
Pursuant to a congressional request, GAO discussed the challenges most of the major federal department agencies face in meeting the basic expectations laid out in the Federal Financial Management Improvement Act of 1996 (FFMIA), focusing on: (1) problems with agencies' systems that prevent them from meeting the expectations of FFMIA; (2) how agencies are able to receive a "clean" audit opinion on...
DOD Inventory: Weaknesses in Controls Over Category I Rockets
AIMD-00-62R: Published: Apr 13, 2000. Publicly Released: Apr 13, 2000.
Pursuant to a legislative requirement, GAO reviewed the weaknesses in the Army's internal controls over the Blue Grass Army Depot's category I rockets.GAO noted that: (1) based on information about the causes of the discrepancies identified at the Blue Grass Army Depot, GAO identified the following internal controls weaknesses that resulted in a loss of accountability and control over the category...
Direct Loan System Requirements: Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act
AIMD-21.2.6: Published: Apr 1, 2000. Publicly Released: Apr 1, 2000.
GAO published a checklist to assist: (1) agencies in implementing and monitoring their direct loan systems; and (2) management and auditors in reviewing their direct loan systems to determine if they are in substantial compliance with the Federal Financial Management Improvement Act...
Executive Guide: Creating Value Through World-class Financial Management (Supersedes AIMD-99-45)
AIMD-00-134: Published: Apr 1, 2000. Publicly Released: Apr 1, 2000.
This publication supersedes AIMD-99-45, Executive Guide: Creating Value Through World-Class Financial Management (Exposure Draft), August 1999. GAO published a guide on the financial management practices and improvement efforts of nine leading public and private sector finance organizations to identify the success factors, practices, and outcomes associated with world-class financial management. T...
Financial Report of the United States Government, 1999
B-285019: Published: Apr 1, 2000. Publicly Released: Apr 1, 2000.
GAO presented the United States government's 1999 financial report. The report includes: (1) audited financial statements that cover the executive, legislative, and judicial branches; and (2) GAO's audit of the financial report...