Accounting standards (61 - 70 of 310 items)
Financial Audit: Significant Internal Control Weaknesses Remain in the Preparation of the Consolidated Financial Statements of the U.S. Government
GAO-07-805: Published: Jul 23, 2007. Publicly Released: Jul 23, 2007.
For the past 10 years, since GAO's first audit of the consolidated financial statements of the U.S. government (CFS), certain material weaknesses in internal control and in selected accounting and financial reporting practices have prevented GAO from expressing an opinion on the CFS. GAO has consistently reported that the U.S. government did not have adequate systems, controls, and procedures to p...
Financial Audit: Congressional Award Foundation's Fiscal Years 2006 and 2005 Financial Statements
GAO-07-786: Published: May 15, 2007. Publicly Released: May 15, 2007.
This report presents our opinion on the financial statements of the Congressional Award Foundation for the fiscal years ended September 30, 2006 and 2005. These financial statements are the responsibility of the Congressional Award Foundation. This report also presents (1) our opinion on the effectiveness of the Foundation's related internal control as of September 30, 2006, and (2) our conclusion...
Federally Chartered Corporation: Financial Statement Audit Report for the American GI Forum of the United States for Fiscal Year 2005
GAO-07-663R: Published: Apr 5, 2007. Publicly Released: Apr 5, 2007.
GAO reviewed the audit reports covering the financial statements of the American GI Forum of the United States for fiscal year 2005. GAO found that the American GI Forum of the United States did not obtain an audit of its financial statements for fiscal year 2005 by an independent public accountant, and therefore did not comply with the statutory requirement for such an audit. Instead, corporation...
Federally Chartered Corporation: Financial Statement Audit Report for the Jewish War Veterans of the United States of America, Inc., for Fiscal Years 2005 and 2004
GAO-07-668R: Published: Apr 5, 2007. Publicly Released: Apr 5, 2007.
GAO reviewed the audit reports covering the financial statements of the Jewish War Veterans of the United States of America, Inc., for fiscal years 2005 and 2004. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that, with two exceptions, the financial statements of the corporation were presented fairly in accordance with U.S. generally accepted...
Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 2006 and 2005
GAO-07-462: Published: Mar 13, 2007. Publicly Released: Mar 13, 2007.
As requested, GAO provided for audits of the financial statements of the U.S. Senate Restaurants Revolving Fund (the Fund) for the fiscal years ended September 30, 2006, and 2005, by contracting with the independent public accounting firm of Clifton Gunderson LLP.In its audit of the Fund, Clifton Gunderson, LLP reported that the financial statements were presented fairly, in all material aspects,...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2006 and 2005
GAO-07-321: Published: Mar 1, 2007. Publicly Released: Mar 1, 2007.
In accordance with 36 U.S.C. 2103, GAO is responsible for conducting audits of the agencywide financial statements of the American Battle Monuments Commission (the Commission). GAO audited the financial statements of the Commission for the fiscal years ended September 30, 2006, and 2005. The audits were done to determine whether, in all material respects, (1) the Commission's financial statements...
Financial Audit: Securities and Exchange Commission's Financial Statements for Fiscal Years 2006 and 2005
GAO-07-134: Published: Nov 15, 2006. Publicly Released: Nov 15, 2006.
Established in 1934 to enforce the securities laws and protect investors, the Securities and Exchange Commission (SEC) plays an important role in maintaining the integrity of the U.S. securities markets. Pursuant to the Accountability of Tax Dollars Act of 2002, the SEC is required to prepare and submit to Congress and the Office of Management and Budget audited financial statements. GAO agreed, u...
Financial Management: Review of the Financial Statement Audit of the White House Commission on the National Moment of Remembrance for Fiscal Year 2005 and Status of GAO Audit Recommendations
GAO-07-61R: Published: Oct 26, 2006. Publicly Released: Oct 26, 2006.
The White House Commission on the National Moment of Remembrance (Commission) was created on December 28, 2000, by the National Moment of Remembrance Act. The Commission's purpose is to sustain the American spirit through acts of remembrance, not only on Memorial Day but also throughout the year, for those who died serving our country. Congress appropriated $1.25 million to the Commission to fund...
Financial Audit: Restated Financial Statements: Agencies' Management and Auditor Disclosures of Causes and Effects and Timely Communication to Users
GAO-07-91: Published: Oct 5, 2006. Publicly Released: Oct 5, 2006.
GAO continues to have concerns about restatements to federal agencies' previously issued financial statements. During fiscal year 2005, at least 7 of the 24 Chief Financial Officers (CFO) Act agencies restated certain of their fiscal year 2004 financial statements to correct misstatements. To study this trend, GAO reviewed the nature and causes of the restatements made by certain CFO Act agencies...
Financial Management: Improvements Under Way but Serious Financial Systems Problems Persist
GAO-06-970: Published: Sep 26, 2006. Publicly Released: Sep 26, 2006.
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 most federal agencies. To help address this challenge, the Federal Financial Management Improvement Act of 1996 (FFMIA) requires the Chief Financial Officers (CFO) Act agencies to imp...