Accountability (71 - 80 of 231 items)
Improper Payments: Status of Agencies' Efforts to Address Improper Payment and Recovery Auditing Requirements
GAO-08-438T: Published: Jan 31, 2008. Publicly Released: Jan 31, 2008.
The federal government is accountable for how its agencies and grantees spend hundreds of billions of taxpayer dollars and is responsible for safeguarding those funds against improper payments and recouping those funds when improper payments occur. The Congress enacted the Improper Payments Information Act of 2002 (IPIA) and section 831 of the National Defense Authorization Act for Fiscal Year 200...
Improper Payments: Federal Executive Branch Agencies' Fiscal Year 2007 Improper Payment Estimate Reporting
GAO-08-377R: Published: Jan 23, 2008. Publicly Released: Jan 23, 2008.
In the fourth year of implementation of the Improper Payments Information Act of 2002 (IPIA), major executive branch agencies reported a total improper payment estimate of about $55 billion for fiscal year 2007. This increase from the prior year estimate of $41 billion was primarily attributable to a component of the Medicaid program reporting improper payments for the first time totaling about $1...
Financial Audit: Securities and Exchange Commission's Financial Statements for Fiscal Years 2007 and 2006
GAO-08-167: Published: Nov 16, 2007. Publicly Released: Nov 16, 2007.
Established in 1934 to enforce the securities laws and protect investors, the Securities and Exchange Commission (SEC) plays an important role in maintaining the integrity of the U.S. securities markets. Pursuant to the Accountability of Tax Dollars Act of 2002, SEC is required to prepare and submit to Congress and the Office of Management and Budget audited financial statements. GAO agreed, under...
Financial Audit: IRS's Fiscal Years 2007 and 2006 Financial Statement Audits
GAO-08-166: Published: Nov 9, 2007. Publicly Released: Nov 9, 2007.
Because of the significance of Internal Revenue Service (IRS) collections to overall federal receipts and, in turn, to the consolidated financial statements of the U.S. government, which GAO is required to audit, and Congress's interest in financial management at IRS, GAO audits IRS's financial statements annually to determine whether (1) the financial statements are reliable, and (2) IRS manageme...
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...
Defense Business Transformation: A Full-time Chief Management Officer with a Term Appointment Is Needed at DOD to Maintain Continuity of Effort and Achieve Sustainable Success
GAO-08-132T: Published: Oct 16, 2007. Publicly Released: Oct 16, 2007.
The Department of Defense (DOD) continues to face significant challenges in resolving its many long-standing business challenges. DOD is solely responsible for eight high-risk areas and shares responsibility for another seven governmentwide areas on GAO's high-risk list. GAO designated DOD's approach to business transformation as high risk in 2005 because (1) DOD's improvement efforts were fragmen...
Premium Class Travel: Internal Control Weaknesses Governmentwide Led to Improper and Abusive Use of Premium Class Travel
GAO-07-1268: Published: Sep 28, 2007. Publicly Released: Oct 3, 2007.
Previous GAO work on widespread improper premium class travel at the Department of Defense (DOD) and the Department of State (State) have led to concerns as to whether similar improper travel exists in the rest of the federal government. Consequently, GAO was asked to (1) determine the magnitude of premium class travel governmentwide and the extent such travel was improper, (2) identify internal c...
Homeland Security: Responses to Posthearing Questions Related to the Department of Homeland Security's Integrated Financial Management Systems Challenges
GAO-07-1157R: Published: Aug 10, 2007. Publicly Released: Aug 10, 2007.
On June 28, 2007, GAO testified before the Senate Subcommittee on Federal Financial Management, Government Information, Federal Services, and International Security, Committee on Homeland Security and Governmental Affairs, at a hearing entitled, "Financial Management Systems Modernization at the Department of Homeland Security: Are Missed Opportunities Costing Us Money?" At the hearing, we discuss...
Financial Management: Long-standing Financial Systems Weaknesses Present a Formidable Challenge
GAO-07-914: Published: Aug 3, 2007. Publicly Released: Aug 3, 2007.
The Federal Financial Management Improvement Act of 1996 (FFMIA) requires the 24 Chief Financial Officers (CFO) Act agencies to implement and maintain financial management systems that comply substantially with (1) federal financial management systems requirements, (2) federal accounting standards, and (3) the U.S. Government Standard General Ledger (SGL). FFMIA also requires GAO to report annuall...
Internal Revenue Service: Status of GAO Financial Audit and Related Financial Management Report Recommendations
GAO-07-629: Published: Jun 7, 2007. Publicly Released: Jun 7, 2007.
In its role as the nation's tax collector, the Internal Revenue Service (IRS) has a demanding responsibility in annually collecting over $2 trillion in taxes, processing hundreds of millions of tax and information returns, and enforcing the nation's tax laws. Since its first audit of IRS's financial statements in fiscal year 1992, GAO has identified a number of weaknesses in IRS's financial manage...