Financial statement audits (121 - 130 of 1,504 items)
Financial Audit: IRS's Fiscal Years 2008 and 2007 Financial Statements
GAO-09-119: Published: Nov 10, 2008. Publicly Released: Nov 10, 2008.
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 fairly stated, and (2) IRS man...
Financial Audit: Bureau of the Public Debt's Fiscal Years 2008 and 2007 Schedules of Federal Debt
GAO-09-44: Published: Nov 7, 2008. Publicly Released: Nov 7, 2008.
GAO is required to audit the consolidated financial statements of the U.S. government. Due to the significance of the federal debt held by the public to the governmentwide financial statements, GAO audits the Bureau of the Public Debt's (BPD) Schedules of Federal Debt annually. The audit of these schedules is done to determine whether, in all material respects, (1) the schedules are reliable and (...
Financial Management: Persistent Financial Management Systems Issues Remain for Many CFO Act Agencies
GAO-08-1018: Published: Sep 30, 2008. Publicly Released: Sep 30, 2008.
The ability to produce the financial information needed to efficiently and effectively manage the day-today operations of the federal government and provide accountability to taxpayers continues to be a challenge for many federal agencies. To help address this challenge, the Federal Financial Management Improvement Act of 1996 (FFMIA) requires the 24 Chief Financial Officers (CFO) Act agencies to...
Audit of Special Counsel Expenditures for the 6 Months Ended March 31, 2008
GAO-08-1122R: Published: Sep 24, 2008. Publicly Released: Sep 24, 2008.
This report presents the results of our audit of the expenditures of the Office of Special Counsel-Patrick J. Fitzgerald (OSC-Fitzgerald) for the 6 months ended March 31, 2008. The expenditures we audited were those made by the Department of Justice (DOJ) between October 1, 2007, and March 31, 2008, from the permanent, indefinite appropriation (fund) for OSC-Fitzgerald. DOJ determined that the app...
U.S. Multinational Corporations: Effective Tax Rates Are Correlated with Where Income Is Reported
GAO-08-950: Published: Aug 12, 2008. Publicly Released: Sep 8, 2008.
U.S. and foreign tax regimes influence decisions of U.S. multinational corporations (MNC) regarding how much to invest and how many workers to employ in particular activities and in particular locations. Tax rules also influence where corporations report earning income for tax purposes. The average effective tax rate, which equals the amount of income taxes a business pays divided by its pretax ne...
Federal Information System Controls Audit Manual (FISCAM): Exposure Draft [Superseded by GAO-09-232G]
GAO-08-1029G: Published: Jul 31, 2008. Publicly Released: Jul 31, 2008.
This document has been superseded by GAO-09-232G. This letter transmits the exposure draft of the Government Accountability Office (GAO) Federal Information System Controls Audit Manual (FISCAM) for review and comment. The FISCAM presents a methodology for performing information system (IS) control audits of federal and other governmental entities in accordance with professional standards, and was...
Financial Audit Manual: Volume 2, July 2008 (Supersedes GAO-08-82G)
GAO-08-586G: Published: Jul 25, 2008. Publicly Released: Jul 25, 2008.
This publication supersedes GAO-08-82G, Financial Audit Manual: Volume Two, Exposure Draft--October 2007. The U.S. Government Accountability Office (GAO) and the President's Council on Integrity and Efficiency (PCIE) maintain the GAO/PCIE Financial Audit Manual (FAM). The FAM provides guidance for performing financial statement audits of federal entities. The FAM is a key tool for enhancing accoun...
Financial Audit Manual: Volume 1, July 2008 (Supersedes GAO-08-81G)
GAO-08-585G: Published: Jul 25, 2008. Publicly Released: Jul 25, 2008.
This publication supersedes GAO-08-81G, Audit Manual: Volume 1, Exposure Draft, October 2007. The U.S. Government Accountability Office (GAO) and the President's Council on Integrity and Efficiency (PCIE) maintain the GAO/PCIE Financial Audit Manual (FAM). The FAM provides guidance for performing financial statement audits of federal entities. The FAM is a key tool for enhancing accountability ove...
Management Report: Opportunities for Improvements in FDIC's Internal Controls and Accounting Procedures
GAO-08-863R: Published: Jul 11, 2008. Publicly Released: Jul 11, 2008.
In February 2008, we issued our opinions on the calendar year 2007 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, 2007, and our evaluation of F...
Internal Revenue Service: Status of GAO Financial Audit and Related Financial Management Report Recommendations
GAO-08-693: Published: Jul 2, 2008. Publicly Released: Jul 2, 2008.
In its role as the nation's tax collector, the Internal Revenue Service (IRS) has a demanding responsibility in annually collecting trillions of dollars 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 ma...