Financial records (101 - 110 of 1,455 items)
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...
Medicare Advantage: Required Audits of Limited Value
GAO-08-154T: Published: Oct 16, 2007. Publicly Released: Oct 16, 2007.
In fiscal year 2006, the Centers for Medicare & Medicaid Services (CMS) estimated it spent over $51 billion on the Medicare Advantage program, which serves as an alternative to the traditional feefor- service program. Under the Medicare Advantage program, CMS approves private companies to offer health plan options to Medicare enrollees that include all Medicare-covered services. Many plans also pr...
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...
Financial Audit: Significant Internal Control Weaknesses Remain in the Preparation of the Consolidated Financial Statements of the U.S. Government
GAO-07-805: Published: Jul 23, 2007. Publicly Released: Jul 23, 2007.
For the past 10 years, since GAO's first audit of the consolidated financial statements of the U.S. government (CFS), certain material weaknesses in internal control and in selected accounting and financial reporting practices have prevented GAO from expressing an opinion on the CFS. GAO has consistently reported that the U.S. government did not have adequate systems, controls, and procedures to p...
Management Report: Opportunities for Improvements in FDIC's Internal Controls and Accounting Procedures
GAO-07-942R: Published: Jun 27, 2007. Publicly Released: Jun 27, 2007.
In February 2007, we issued our opinions on the calendar year 2006 financial statements of the Deposit Insurance Fund (DIF) and the FSLIC Resolution Fund (FRF). We also issued our opinion on the effectiveness of the Federal Deposit Insurance Corporation's (FDIC) internal control over financial reporting (including safeguarding assets) and compliance as of December 31, 2006, and our evaluation of F...
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...