Financial records (71 - 80 of 658 items)
Governmentwide Accounts Payable
GAO-08-711R: Published: May 20, 2008. Publicly Released: May 20, 2008.
The Government Accountability Office (GAO) is required by the Government Management Reform Act of 1994 to audit the Consolidated Financial Statements of the U.S. Government (CFS). Certain material weaknesses in financial reporting and other limitations on the scope of our work have continued to result in conditions that have prevented us from expressing an opinion on the federal government's accru...
Financial Audit: Congressional Award Foundation's Fiscal Years 2007 and 2006 Financial Statements
GAO-08-715: Published: May 15, 2008. Publicly Released: May 15, 2008.
This report presents our opinion on the financial statements of the Congressional Award Foundation (the Foundation) for the fiscal years ended September 30, 2007, and 2006. These financial statements are the responsibility of the Foundation. This report also presents (1) our opinion on the effectiveness of the Foundation's related internal control as of September 30, 2007, and (2) the results of o...
Internal Control: Improvements Needed in SEC's Accounting and Financial Reporting Process
GAO-08-461R: Published: Apr 1, 2008. Publicly Released: Apr 1, 2008.
On November 16, 2007, we issued our report on the U.S. Securities and Exchange Commission's (SEC) fiscal years 2007 and 2006 financial statements and on SEC's internal control as of September 30, 2007. We also reported on the results of our tests of SEC's compliance with selected provisions of laws and regulations during fiscal year 2007. The purpose of this report is to present areas of SEC's int...
Financial Audit: Special Counsel Expenditures for the Six Months Ended September 30, 2007
GAO-08-541: Published: Mar 31, 2008. Publicly Released: Mar 31, 2008.
This report presents the results of our audit of expenditures reported by the Office of Special Counsel Patrick J. Fitzgerald for the 6 months ended September 30, 2007. The independent counsels were required under 28 U.S.C. 596 (c)(1) to prepare a statement of expenditures on a semiannual basis. Under 28 U.S.C. 596 (c)(2 ), we were required to conduct a financial review of a midyear statement and...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2007 and 2006
GAO-08-326: Published: Feb 29, 2008. Publicly Released: Feb 29, 2008.
In accordance with 36 U.S.C. 2103, GAO is responsible for conducting audits of the agencywide financial statements of the American Battle Monuments Commission (the Commission). GAO audited the financial statements of the Commission for the fiscal years ended September 30, 2007, and 2006. The audits were done to determine whether, in all material respects, (1) the Commission's financial statements...
Improper Payments: Weaknesses in USAID's and NASA's Implementation of the Improper Payments Information Act and Recovery Auditing
GAO-08-77: Published: Nov 9, 2007. Publicly Released: Dec 10, 2007.
Agencies are required to report improper payment information under the Improper Payments Information Act of 2002 (IPIA) and recovery auditing information under section 831 of the National Defense Authorization Act for Fiscal Year 2002, commonly known as the Recovery Auditing Act. Since the first year of implementation, fiscal year 2004, limited improper payments reporting by the United States Agen...
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 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...
Navy Working Capital Fund: Management Action Needed to Improve Reliability of the Naval Air Warfare Center's Reported Carryover Amounts
GAO-07-643: Published: Jun 26, 2007. Publicly Released: Jun 26, 2007.
According to the Department of Defense's (DOD) fiscal year 2007 budget estimates, working capital fund activity groups (depot maintenance, ordnance, and research and development) will have about $6 billion of funded work that will be carried over from fiscal year 2007 into fiscal year 2008. The congressional defense committees recognize that these groups need some carryover to ensure a smooth work...
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...