Financial records (81 - 90 of 1,455 items)
Internal Revenue Service: Status of GAO Financial Audit and Related Financial Management Report Recommendations
GAO-09-514: Published: Jun 25, 2009. Publicly Released: Jun 25, 2009.
In its role as the nation's tax collector, the Internal Revenue Service (IRS) has a demanding responsibility to annually collect trillions of dollars in taxes, process hundreds of millions of tax and information returns, and enforce 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 management...
Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 2008 and 2007
GAO-09-409: Published: May 29, 2009. Publicly Released: May 29, 2009.
This report discusses audits of the financial statements of the U.S. Senate Restaurants Revolving Fund (the Fund) for the fiscal years ended September 30, 2008, and 2007. Specifically, we contracted with the independent public accounting firm of Clifton Gunderson LLP. The contract required that the audit be conducted in accordance with U.S. generally accepted government auditing standards and the...
Financial Audit: Congressional Award Foundation's Fiscal Years 2008 and 2007 Financial Statements
GAO-09-652: Published: May 15, 2009. Publicly Released: May 15, 2009.
This report presents our opinion on the financial statements of the Congressional Award Foundation (the Foundation) for the fiscal years ended September 30, 2008, and 2007. 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, 2008, and (2) the results of o...
Financial Management Systems: OMB's Financial Management Line of Business Initiative Continues but Future Success Remains Uncertain
GAO-09-328: Published: May 7, 2009. Publicly Released: May 7, 2009.
In March 2004, the Office of Management and Budget (OMB) launched the financial management line of business (FMLOB) initiative, in part, to reduce the cost and improve the quality and performance of federal financial management systems by leveraging shared service solutions and implementing other reforms. In March 2006, GAO reported that OMB's approach did not fully integrate certain fundamental s...
Financial Management: Achieving Financial Statement Auditability in the Department of Defense
GAO-09-373: Published: May 6, 2009. Publicly Released: May 6, 2009.
Since the first financial statement audit was attempted at a major Department of Defense (DOD) component over 20 years ago, GAO and DOD auditors have continued to report significant weaknesses in the department's ability to provide timely, reliable, consistent, and accurate information for management analysis, decision-making, and reporting. DOD has undertaken a number of initiatives over the year...
Financial Literacy and Education Commission: Progress Made in Fostering Partnerships, but National Strategy Remains Largely Descriptive Rather Than Strategic
GAO-09-638T: Published: Apr 29, 2009. Publicly Released: Apr 29, 2009.
In 2003, the Financial Literacy and Education Improvement Act created the Financial Literacy and Education Commission, which comprises 20 federal agencies and which the Department of the Treasury's (Treasury) Office of Financial Education coordinates. Responding to a mandate in the act, GAO assessed the Commission's effectiveness and in December 2006 recommended that the Commission (1) incorporate...
Financial Audit: Material Weaknesses in Internal Control Continue to Impact Preparation of the Consolidated Financial Statements of the U.S. Government
GAO-09-387: Published: Apr 21, 2009. Publicly Released: Apr 21, 2009.
Since GAO's first audit of the fiscal year 1997 consolidated financial statements of the U.S. government (CFS), material weaknesses in internal control and other limitations on the scope of our work have prevented GAO from expressing an opinion on the accrual basis CFS. Certain of those material weaknesses relate to inadequate systems, controls, and procedures to properly prepare the CFS. The purp...
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-09-376R: Published: Apr 2, 2009. Publicly Released: Apr 2, 2009.
On November 14, 2008, we issued our opinion on the U.S. Securities and Exchange Commission's (SEC) fiscal years 2008 and 2007 financial statements. We also issued our opinion on the effectiveness of SEC's internal control over financial reporting (including safeguarding of assets) and over compliance as of September 30, 2008, and our evaluation of SEC's compliance with selected provisions of laws...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2008 and 2007
GAO-09-293: Published: Feb 27, 2009. Publicly Released: Feb 27, 2009.
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, 2008, and 2007. The audits were done to determine whether, in all material respects, (1) the Commission's financial statements...
Financial Audit: Capitol Preservation Fund's Fiscal Years 2007 and 2006 Financial Statements
GAO-09-92: Published: Dec 5, 2008. Publicly Released: Dec 5, 2008.
This report presents our opinion on the financial statements of the Capitol Preservation Fund (the Fund) for the fiscal years ended September 30, 2007, and 2006. It also discusses our consideration of the Fund's internal controls and our tests of compliance with laws and regulations during fiscal years 2007 and 2006. We conducted our audits pursuant to 2 U.S.C. 2084 and in accordance with U.S. gen...