Financial statements (31 - 40 of 1,298 items)
DOD Financial Management: Additional Efforts Needed to Improve Audit Readiness of Navy Military Pay and Other Related Activities
GAO-15-658: Published: Sep 15, 2015. Publicly Released: Oct 15, 2015.
Based on documentation provided by the Navy and the results of audit procedures, an independent public accountant (IPA) concluded that information reported on the Navy's schedule of military pay activity for April 2013 reconciled to a complete population of pay transactions that were adequately supported and valid. GAO reviewed the Navy's documentation and the IPA's related audit documentation. No...
DOD Financial Management: Continued Actions Needed to Address Congressional Committee Panel Recommendations
GAO-15-463: Published: Sep 28, 2015. Publicly Released: Sep 28, 2015.
The Department of Defense (DOD) has made progress toward implementing each of the 29 recommendations made by the House Armed Services Committee Panel on Defense Financial Management and Auditability Reform (the panel). GAO determined that DOD's actions met 6 of the panel's recommendations and partially met the other 23. In its May 2015 Financial Improvement and Audit Readiness (FIAR) Plan Status R...
DOD Financial Management: Actions Are Needed on Audit Issues Related to the Marine Corps' 2012 Schedule of Budgetary Activity
GAO-15-198: Published: Jul 30, 2015. Publicly Released: Aug 3, 2015.
GAO found that in certain key audit areas, the Department of Defense (DOD) Office of Inspector General (OIG) did not perform sufficient procedures, under professional standards, and consequently did not obtain sufficient, appropriate audit evidence to support the audit opinion on the Marine Corps' Fiscal Year 2012 Schedule of Budgetary Activity (Schedule). GAO found that the OIG did not perform su...
Management Report: Improvements Needed in Controls over the Processes Used to Prepare the U.S. Consolidated Financial Statements
GAO-15-630: Published: Jul 30, 2015. Publicly Released: Jul 30, 2015.
During its audit of the fiscal year 2014 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 over the federal government's ability toadequat...
Management Report: Improvements Needed in the Bureau of the Fiscal Service's Information Systems Controls
GAO-15-412R: Published: Jun 25, 2015. Publicly Released: Jun 25, 2015.
During GAO's audit of the Schedules of Federal Debt Managed by the Department of the Treasury's (Treasury) Bureau of the Fiscal Service (Fiscal Service) for the fiscal years ended September 30, 2014, and 2013, GAO identified nine new information systems general control deficiencies related to security management, access controls, and configuration management. In a separately issued Limited Officia...
Financial Audit: Congressional Award Foundation's Fiscal Years 2014 and 2013 Financial Statements
GAO-15-552: Published: May 15, 2015. Publicly Released: May 15, 2015.
In GAO’s audits of the Congressional Award Foundation’s (Foundation) financial statements for fiscal years 2014 and 2013, it found that the Foundation’s financial statements are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles. GAO also identified no material weaknesses in internal control over financial reporting based on the limit...
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-15-387R: Published: Apr 30, 2015. Publicly Released: Apr 30, 2015.
During its audit of the U.S. Securities and Exchange Commission’s (SEC) fiscal year 2014 financial statements, GAO identified continuing and new deficiencies in SEC’s financial reporting controls over its accounting for disgorgement and penalty transactions, which contributed to a significant deficiency in SEC’s internal control over financial reporting as of September 30, 2014. This signifi...
Patient-Centered Outcomes Research Institute: Review of the Audit of the Financial Statements for 2014 and 2013
GAO-15-395R: Published: Mar 27, 2015. Publicly Released: Mar 27, 2015.
GAO found that the independent public accountant’s (IPA) audit of the Patient-Centered Outcomes Research Institute’s (PCORI) 2014 and 2013 financial statements was performed in accordance with professional standards, in all material respects. PCORI’s IPA provided an unmodified audit opinion on its 2014 and 2013 financial statements and found that PCORI’s financial statements were presented...
Financial Audit: U.S. Government's Fiscal Years 2014 and 2013 Consolidated Financial Statements
GAO-15-341R: Published: Feb 26, 2015. Publicly Released: Feb 26, 2015.
To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government’s fiscal challenges, 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. Further, when fully and effectively im...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2014 and 2013 Financial Statements
GAO-15-289: Published: Feb 12, 2015. Publicly Released: Feb 12, 2015.
In GAO's opinion, the Federal Deposit Insurance Corporation (FDIC) fairly presented, in all material respects, the 2014 and 2013 financial statements for the two funds it administers—the Deposit Insurance Fund (DIF) and the FSLIC Resolution Fund (FRF). Also, in GAO's opinion, FDIC maintained, in all material respects, effective internal control over financial reporting relevant to the DIF and to...