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Reporting requirements (1 - 8 of 8 items) in Past Year
DOD Financial Management: Significant Efforts Still Needed for Remediating Audit Readiness Deficiencies
GAO-17-85: Published: Feb 9, 2017. Publicly Released: Feb 9, 2017.
The Schedules of Budgetary Activity (Budgetary Schedules) for the Army, Navy, and Air Force for fiscal year 2015 reflected current year budget activity as an interim step toward producing an auditable Statement of Budgetary Resources that will reflect multiyear budget activity. All three of the independent public accountants (IPA) contracted to audit these fiscal year 2015 Budgetary Schedules issu...
Financial Audit: Fiscal Years 2016 and 2015 Consolidated Financial Statements of the U.S. Government
GAO-17-283R: Published: Jan 12, 2017. Publicly Released: Jan 12, 2017.
To operate as effectively and efficiently as possible, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information—both for individual federal entities and for the federal government as a whole. GAO’s report on the U.S. government’s consolidated financial statements for fiscal years 2016 and 2015 underscores that mu...
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...
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...
Management Report: Improvements Needed in CFPB's Internal Controls and Accounting Procedures
GAO-16-522R: Published: Jun 13, 2016. Publicly Released: Jun 13, 2016.
During its audit of the Consumer Financial Protection Bureau’s (CFPB) fiscal years 2015 and 2014 financial statements, GAO identified deficiencies in CFPB’s internal control over accounting for property, equipment, and software that collectively constituted a significant deficiency in CFPB’s internal control over financial reporting. Specifically, GAO found that CFPB did not effectively desi...
DOD Financial Management: Greater Visibility Needed to Better Assess Audit Readiness for Property, Plant, and Equipment
GAO-16-383: Published: May 26, 2016. Publicly Released: May 26, 2016.
The Department of Defense (DOD), reporting about $630 billion total Property, Plant, and Equipment (PP&E) net of accumulated depreciation as of September 30, 2015, is responsible for over 70 percent of the U.S. government's reported PP&E. However, as GAO and others have previously reported—and made recommendations to address—DOD's accountability over and ability to value its PP&E assets has fo...
Management Report: Improvements Are Needed to Enhance the Internal Revenue Service's Internal Control over Financial Reporting
GAO-16-457R: Published: May 18, 2016. Publicly Released: May 18, 2016.
During its audit of the Internal Revenue Service’s (IRS) fiscal years 2015 and 2014 financial statements, GAO identified several deficiencies in IRS’s internal control over financial reporting that while not considered to be material weaknesses or significant deficiencies either individually or collectively, nonetheless warrant IRS management’s attention. These control deficiencies relate to...
Patient-Centered Outcomes Research Institute: Review of the Audit of the Financial Statements for Fiscal Year 2015
GAO-16-458R: Published: Mar 30, 2016. Publicly Released: Mar 30, 2016.
Based on the procedures performed by GAO regarding the independent public accountant’s (IPA) financial audit of the Patient-Centered Outcomes Research Institute’s (PCORI) fiscal year 2015 financial statements, GAO did not identify any significant issues related to the financial statement audit that it believes require attention. The IPA provided an unmodified audit opinion on PCORI’s fiscal...