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Financial statements (71 - 80 of 206 items)
Financial Audits: CFO Implementation at IRS and Customs
T-AIMD-94-164: Published: Jul 28, 1994. Publicly Released: Jul 28, 1994.
GAO discussed the Internal Revenue Service's (IRS) and the Customs Service's compliance with the Chief Financial Officers (CFO) Act's financial reporting requirements. GAO noted that: (1) although it was unable to provide an opinion on IRS and Customs' fiscal year 1993 financial statements because of continuing financial management problems, IRS and Customs have made significant improvements to th...
Financial Audit: Panama Canal Commission's Accounting Procedures and Internal Controls
AIMD-94-134ML: Published: Jul 21, 1994. Publicly Released: Jul 21, 1994.
GAO reviewed the Panama Canal Commission's accounting procedures and internal control structure. GAO noted that: (1) there are nonmaterial weaknesses in the Commission's review and reconciliation of inventory records, recording of inventory receipts and issuances, general electronic data processing controls over computer systems, and centralized responsibility over information assets; and (2) the...
Financial Management: CFO Act Is Achieving Meaningful Progress
T-AIMD-94-149: Published: Jun 21, 1994. Publicly Released: Jun 21, 1994.
GAO discussed the implementation of the Chief Financial Officers Act (CFO). GAO noted that: (1) the benefits of CFO-required financial statement audits include more accurate and useful information on the government's financial status and operations, greater understanding of internal control and financial management system problems, savings of resources, and improvement in management's accountabili...
Financial Audit: Examination of Customs' Fiscal Year 1993 Financial Statements
AIMD-94-119: Published: Jun 15, 1994. Publicly Released: Jun 15, 1994.
Pursuant to a legislative requirement, GAO audited the Customs Service's financial statements for fiscal year (FY) 1993.GAO found that: (1) Customs was unable to resolve all the critical problems that were identified in its FY 1992 financial statement audit; (2) Customs had unreliable financial information, inadequate financial systems and processes, and an ineffective internal control structure;...
Financial Audit: Examination of IRS' Fiscal Year 1993 Financial Statements
AIMD-94-120: Published: Jun 15, 1994. Publicly Released: Jun 15, 1994.
Pursuant to a legislative requirement, GAO examined the Internal Revenue Service's (IRS) financial statements for fiscal year (FY) 1993.GAO found that: (1) critical supporting information for IRS financial statements was not available; (2) the available information was generally unreliable due to ineffective internal controls; (3) IRS internal controls did not effectively safeguard assets, provide...
Air Force FY 1992 Financial Audits
AIMD-94-129R: Published: Jun 7, 1994. Publicly Released: Jun 7, 1994.
GAO reviewed the fiscal year 1992 audits of the Air Force's consolidated financial statements and its Defense Business Operations Fund (DBOF) activities. GAO noted that the: (1) DBOF financial audits were reported in a thorough and straightforward manner; (2) Department of Defense (DOD) Inspector General needs to be more proactive on future mandated audits and provide greater oversight of Air Forc...
Air Force FY 1992 Financial Audits
AIMD-94-125R: Published: Jun 7, 1994. Publicly Released: Jun 7, 1994.
GAO reviewed the fiscal year 1992 audits of the Air Force's consolidated financial statements and its Defense Business Operations Fund activities. GAO noted that: (1) although the Air Force Audit Agency (AFAA) complied with professional auditing standards, its reporting of the audit results could have been strengthened by including additional detailed information on the reports' findings, prior re...
Financial Audit: Pension Benefit Guaranty Corporation's 1993 and 1992 Financial Statements
AIMD-94-109: Published: May 4, 1994. Publicly Released: May 4, 1994.
GAO examined the financial statements of the Pension Benefit Guaranty Corporation's (PBGC) Single-Employer and Multiemployer Funds for the years ended September 30, 1993 and 1992, focusing on PBGC: (1) financial condition; (2) internal controls; and (3) compliance with applicable laws and regulations.GAO found that: (1) PBGC financial statements for the years ended September 30, 1993 and 1992 were...
DOD 'M' Accounts
AIMD-94-84R: Published: Feb 24, 1994. Publicly Released: Feb 24, 1994.
GAO discussed regulations concerning merged (M) appropriation account balances within the Department of Defense (DOD) and requested information on actions that DOD is taking to reconcile the remaining M accounts...
Federal Deposit Insurance Corporation: Management Letter as of December 31, 1992
AIMD-94-30ML: Published: Jan 24, 1994. Publicly Released: Jan 24, 1994.
Pursuant to a legislative requirement, GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) accounting procedures and internal controls for corporate, consolidated office, and asset pool operations. GAO found that: (1) FDIC has not performed physical inventories and reconciliations, properly recorded fund transactions and administrative expenses, developed policies and procedures for ca...