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Financial records (1 - 10 of 264 items) in Custom Date Range
Financial Management: Department of Homeland Security Faces Significant Financial Management Challenges
GAO-04-774: Published: Jul 19, 2004. Publicly Released: Jul 29, 2004.
When the Department of Homeland Security (DHS) began operations in March 2003, it faced the daunting task of bringing together 22 diverse agencies. This transformation poses significant management and leadership challenges, including integrating a myriad of redundant financial management systems and addressing the existing weaknesses in the inherited components, as well as newly identified weaknes...
Fiscal Year 2003 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Future Fiscal Challenges
GAO-04-886T: Published: Jul 8, 2004. Publicly Released: Jul 8, 2004.
GAO is required to annually audit the consolidated financial statements of the U.S. government. Proper accounting and reporting practices are essential in the public sector. The U.S. government is the largest, most diverse, most complex, and arguably the most important entity on earth today. Its services--homeland security, national defense, Social Security, mail delivery, and food inspection, to...
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: Financial Reporting Issues Related to the Navy's Direct Vendor Delivery Initiative
AIMD-00-312R: Published: Sep 13, 2000. Publicly Released: Sep 13, 2000.
GAO provided information on how a Direct Vendor Delivery (DVD) contract would affect the Navy's financial reporting, focusing on: (1) whether accounting and auditing standards would require DVD contractors to report individual transactions through the Transaction Item Reporting (TIR) system; and (2) what level of reporting would be required under a DVD contract to meet accounting and auditing stan...
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...
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 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...
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...
Financial Audit: 1999 Financial Report of the United States Government
AIMD-00-131: Published: Mar 31, 2000. Publicly Released: Mar 31, 2000.
Pursuant to a legislative requirement, GAO reviewed the annual audited financial statements for 24 major departments and agencies of the U.S. government.GAO noted that: (1) certain significant financial systems weaknesses, problems with fundamental recordkeeping and financial reporting, incomplete documentation, and weak internal control, including computer controls, continue to prevent the govern...
Financial Management: Differences in Army and Air Force Disbursing and Accounting Records
AIMD-00-20: Published: Mar 7, 2000. Publicly Released: Mar 7, 2000.
Pursuant to a congressional request, GAO provided information on differences in the Army's and Air Force's disbursing and accounting records, focusing on: (1) if, and to what extent, contract payment transactions recorded in the Army and the Air Force official accounting records differed from mechanization of contract administration services (MOCAS) disbursing system records; (2) the types of diff...