Financial records (61 - 70 of 713 items)
Financial Audit: Office of Financial Stability (Troubled Asset Relief Program) Fiscal Year 2009 Financial Statements
GAO-10-301: Published: Dec 9, 2009. Publicly Released: Dec 9, 2009.
On October 3, 2008, the Emergency Economic Stabilization Act of 2008 (EESA) was signed into law. EESA authorized the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP) and established the Office of Financial Stability (OFS) within the Department of the Treasury (Treasury) to do so. EESA requires the annual preparation of financial statements for TARP, and further requi...
Department Of Veterans Affairs: Improvements Needed in Corrective Action Plans to Remediate Financial Reporting Material Weaknesses
GAO-10-65: Published: Nov 16, 2009. Publicly Released: Nov 16, 2009.
In fiscal year 2008, the Department of Veterans Affairs (VA) identified three material internal control weaknesses over financial reporting--financial management system functionality, IT security controls, and financial management oversight. VA is developing a new financial system--FLITE--but full implementation is not expected until 2014. Therefore, the Subcommittee asked us to determine whether...
Financial Audit: Securities and Exchange Commission's Financial Statements for Fiscal Years 2009 and 2008
GAO-10-250: Published: Nov 16, 2009. Publicly Released: Nov 16, 2009.
Established in 1934 to enforce the securities laws and protect investors, the United States 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, SEC is required to prepare and submit to Congress and the Office of Management and Budget audited financial statements. GAO...
Financial Audit: IRS's Fiscal Years 2009 and 2008 Financial Statements
GAO-10-176: Published: Nov 10, 2009. Publicly Released: Nov 10, 2009.
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 Government Accountability Office (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...
Troubled Asset Relief Program: Continued Stewardship Needed as Treasury Develops Strategies for Monitoring and Divesting Financial Interests in Chrysler and GM
GAO-10-151: Published: Nov 2, 2009. Publicly Released: Nov 2, 2009.
The Department of the Treasury (Treasury) provided $81.1 billion in Troubled Asset Relief Program (TARP) aid to the U.S. auto industry, including $62 billion in restructuring loans to Chrysler Group LLC (Chrysler) and General Motors Company (GM). In return, Treasury received 9.85 percent equity in Chrysler, 60.8 percent equity and $2.1 billion in preferred stock in GM, and $13.8 billion in debt ob...
Understanding the Primary Components of the Annual Financial Report of the United States Government
GAO-09-946SP: Published: Sep 25, 2009. Publicly Released: Sep 25, 2009.
This guide supersedes GAO-05-958SP, "Understanding the Primary Components of the Annual Financial Report of the United States Government." The U.S. government is the largest, most diverse, most complex, and arguably the most important entity on earth today. Useful, timely, and reliable financial and performance information is needed to make sound decisions on the current results and future directi...
Management Report: Opportunities for Improvements in FDIC's Internal Controls and Accounting Procedures
GAO-09-943R: Published: Sep 15, 2009. Publicly Released: Sep 15, 2009.
In May 2009, we issued our opinions on the calendar year 2008 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) as of December 31, 2008, and our evaluation of FDIC's compliance wit...
Fiscal Year 2008 U.S. Government Financial Statements: Federal Government Faces New and Continuing Financial Management and Fiscal Challenges
GAO-09-805T: Published: Jul 8, 2009. Publicly Released: Jul 8, 2009.
GAO annually audits the consolidated financial statements of the U.S. government (CFS). The Congress and the President need reliable, useful, and timely financial and performance information to make sound decisions and conduct effective oversight of federal government programs and policies. Except for the 2008 and 2007 Statements of Social Insurance, GAO has been unable to provide assurance on the...
Internal Revenue Service: Status of GAO Financial Audit and Related Financial Management Report Recommendations
GAO-09-514: Published: Jun 25, 2009. Publicly Released: Jun 25, 2009.
In its role as the nation's tax collector, the Internal Revenue Service (IRS) has a demanding responsibility to annually collect trillions of dollars in taxes, process hundreds of millions of tax and information returns, and enforce 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 management...
Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 2008 and 2007
GAO-09-409: Published: May 29, 2009. Publicly Released: May 29, 2009.
This report discusses audits of the financial statements of the U.S. Senate Restaurants Revolving Fund (the Fund) for the fiscal years ended September 30, 2008, and 2007. Specifically, we contracted with the independent public accounting firm of Clifton Gunderson LLP. The contract required that the audit be conducted in accordance with U.S. generally accepted government auditing standards and the...