Internal audits (1 - 3 of 3 items) in Past Year
Single Audit Analysis: Federated States of Micronesia and the Republic of the Marshall Islands (GAO-16-760SP), an E-Supplement to GAO-16-550T
GAO-16-760SP: Published: Sep 20, 2016. Publicly Released: Sep 20, 2016.
This is an e-supplement to GAO-16-550T. The Single Audit Act of 1984, as amended, is intended to improve accountability, including effective internal control over federal awards administered by state and local governments and nonprofit organizations. The Single Audit Act, as implemented by the Office of Management and Budget (OMB) requires each non-federal entity that expends a total amount of fed...
DOD Financial Management: Improvements Needed in the Navy's Audit Readiness Efforts for Fund Balance with Treasury
GAO-16-47: Published: Aug 19, 2016. Publicly Released: Aug 19, 2016.
The Navy has made progress in performing audit readiness activities, including developing a financial improvement plan (FIP) for its Fund Balance with Treasury (FBWT). These activities are critical to the Navy's General Fund Statement of Budgetary Resources (SBR) improvement efforts. The Navy's FBWT FIP is particularly important as it addresses improvement efforts across multiple business processe...
Management Report: Improvements Needed in Controls over the Processes Used to Prepare the U.S. Consolidated Financial Statements
GAO-16-621: Published: Jul 13, 2016. Publicly Released: Jul 13, 2016.
During its audit of the fiscal year 2015 consolidated financial statements of the U.S. government (CFS), GAO identified control deficiencies in the Department of the Treasury's (Treasury) and the Office of Management and Budget's (OMB) processes used to prepare the CFS. These control deficiencies contributed to material weaknesses in internal control that involve the federal government's inability...