Accounting standards (61 - 70 of 288 items)
FASAB: Intended Audience and Qualitative Characteristics for the Consolidated Financial Report of the United States Government; Statement of Federal Financial Accounting Concepts 4
A06071: Jan 27, 2003
In this Statement of Concepts, the Federal Accounting Standards Advisory Board (FASAB) has identified the intended or primary audience for the Consolidated Financial Report (CFR) of the US Government. To provide guidance on the CFR, the Board reviewed its existing technical guidance on Federal financial reporting to discern how to apply that guidance to the CFR. The Board will rely on qualitative...
GAO Forum on Governance and Accountability: Challenges to Restore Public Confidence in U.S. Corporate Governance and Accountability Systems
GAO-03-419SP: Published: Jan 24, 2003. Publicly Released: Jan 24, 2003.
On December 9, 2002, GAO convened a governance and accountability forum to discuss challenges facing regulators, the accounting profession, and boards of directors and management of public companies in effectively implementing the Sarbanes-Oxley Act of 2002 and related regulatory actions to improve public confidence in U.S. corporate governance and accountability systems. Major accountability brea...
DOD Contract Management: Overpayments Continue and Management and Accounting Issues Remain
GAO-02-635: Published: May 30, 2002. Publicly Released: Jul 1, 2002.
Since GAO reported on Department of Defense (DOD) contractor overpayments in 1994, additional reports have been issued highlighting billions of dollars of overpayments to Defense contractors. In December 2001, Congress amended Title 31 of the United States Code to require a federal agency with contracts totaling over $500 million in a fiscal year to have a cost-effective program for identifying pa...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2001 and 2000
GAO-02-390: Published: Mar 1, 2002. Publicly Released: Mar 1, 2002.
GAO reviewed the financial statement audit reports for the American Battle Monuments Commission (ABMC) for fiscal years 2000 and 2001. GAO found that (1) the consolidated financial statements for fiscal year 2001 and comparative consolidated totals for fiscal year 2000 are presented fairly in conformity with U.S. generally accepted accounting principles; (2) although internal controls should be im...
FASAB: Amending SFFAS No. 11, Amendments to Property, Plant, and Equipment; SFFAS No. 8, Supplementary Stewardship Reporting; and SFFAS No. 6, Accounting for Property, Plant, and Equipment
A01747: Aug 30, 2001
This document is a conceptual statement on the objectives of financial reporting by the federal government. It focuses on the uses, user needs, and objectives of such reporting. The objectives are designed to guide the Federal Accounting Standards Advisory Board in developing accounting standards to enhance the financial information reported by the federal government to (1) demonstrate its account...
Management Letter: Improvements Needed in IRS' Accounting Procedures and Internal Controls
GAO-01-880R: Published: Jul 30, 2001. Publicly Released: Jul 30, 2001.
In March 2001, GAO issued a report (GAO-01-394) on the results of its audit of the Internal Revenue Service's (IRS) financial statements and on the effectiveness of its internal controls for fiscal year 2000. This report reviews additional matters identified during GAO's fiscal year 2000 audit regarding accounting procedures and internal controls that could be improved. GAO found that IRS had imma...
Canceled DOD Appropriations: $615 Million of Illegal or Otherwise Improper Adjustments
GAO-01-994T: Published: Jul 26, 2001. Publicly Released: Jul 26, 2001.
This testimony reviews the Department of Defense's (DOD) handling of appropriated funds from expired appropriation accounts. In 1990, Congress changed the law governing the use of appropriation accounts because it concluded that controls over them were not working. Without adequate controls, Congress was concerned that agencies could disburse money in amounts and for purposes that it had not appro...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2000 and 1999
GAO-01-375: Published: Mar 1, 2001. Publicly Released: Mar 1, 2001.
GAO reviewed the financial statement audit reports for the American Battle Monuments Commission for fiscal years 2000 and 1999. GAO found that (1) the consolidating financial statements for fiscal year 2000 and comparative consolidated totals for fiscal year 1999 are presented fairly in conformity with U.S. generally accepted accounting principles; (2) although internal controls should be improved...
Federally Chartered Corporation: Review of the Financial Statement Audit Report for The Foundation of the Federal Bar Association for Fiscal Years 1998 and 1997
GAO-01-397R: Published: Feb 20, 2001. Publicly Released: Feb 20, 2001.
GAO reviewed the Foundation of the Federal Bar Association's financial statement audit reports to determine whether it complied with the financial reporting requirements of the law. GAO found no reportable instances of noncompliance, and the audit report included the auditors' opinions that the corporation's financial statements were presented fairly in accordance with generally accepted accountin...
Federally Chartered Corporation: Review of the Financial Statement Audit Reports for the American Council of Learned Societies for Fiscal Years 1997-1999
GAO-01-395R: Published: Feb 20, 2001. Publicly Released: Feb 20, 2001.
GAO reviewed the American Council of Learned Societies' financial statement audit reports to determine whether it complied with the financial reporting requirements of the law. GAO found no reportable instances of noncompliance, and the audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounti...