Internal controls (81 - 90 of 2,140 items)
Improper Payments: Government-Wide Estimates and Reduction Strategies
GAO-14-737T: Published: Jul 9, 2014. Publicly Released: Jul 9, 2014.
Federal agencies reported an estimated $105.8 billion in improper payments in fiscal year 2013, a decrease from the prior year revised estimate of $107.1 billion. The fiscal year 2013 estimate was attributable to 84 programs spread among 18 agencies. The specific programs included in the government-wide estimate may change from year to year. For example, with Office of Management and Budget (OMB)...
Management Report: Improvements Are Needed to Enhance the Internal Revenue Service's Internal Controls
GAO-14-433R: Published: Jul 2, 2014. Publicly Released: Jul 2, 2014.
During GAO’s audit of the Internal Revenue Service’s (IRS) fiscal year 2013 financial statements, it identified the following eight new internal control deficiencies, including the first item listed below that was included in GAO’s report on the results of its fiscal year 2013 financial statement audit as a contributing factor to IRS’s continuing significant deficiency in internal control...
DOD Financial Management: The Defense Finance and Accounting Service Needs to Fully Implement Financial Improvements for Contract Pay
GAO-14-10: Published: Jun 23, 2014. Publicly Released: Jun 23, 2014.
The Defense Finance and Accounting Service (DFAS) is responsible for processing and disbursing nearly $200 billion annually in contract payments (contract pay) for the Department of Defense (DOD). DFAS recognized the importance of implementing a Financial Improvement Plan (FIP) to improve its contract pay processes, systems, and controls, and performed steps required by DOD's Financial Improvement...
Management Report: Improvements Needed in Controls over the Processes Used to Prepare the U.S. Consolidated Financial Statements
GAO-14-543: Published: Jun 19, 2014. Publicly Released: Jun 19, 2014.
During its audit of the fiscal year 2013 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...
Retirement Security: Oversight of the National Railroad Retirement Investment Trust
GAO-14-312: Published: May 15, 2014. Publicly Released: Jun 16, 2014.
Oversight of the National Railroad Retirement Investment Trust (Trust) includes both regular reporting and communications with the Railroad Retirement Board (Board), and periodic performance audits that the Trust has opted to commission; however, no written requirement for such audits exists. The Trust's mandatory annual management report includes financial and descriptive information, including a...
DOD Financial Management: Improvements Needed in Army's Efforts to Ensure the Reliability of Its Statement of Budgetary Resources
GAO-14-60: Published: May 30, 2014. Publicly Released: May 30, 2014.
The Army has made important progress in developing its financial improvement plan (FIP) for budget execution to help guide its General Fund Statement of Budgetary Resources (SBR) audit readiness efforts. This FIP covers current year activity associated with the recently deployed General Fund Enterprise Business System (GFEBS) emphasizing the implementation of effective business processes. However,...
Financial Audit: Congressional Award Foundation's Fiscal Years 2013 and 2012 Financial Statements
GAO-14-540: Published: May 15, 2014. Publicly Released: May 15, 2014.
In GAO's audits of the Congressional Award Foundation's (Foundation) financial statements for fiscal years 2013 and 2012, 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 limited pro...
DOD Financial Management: Effect of Continuing Weaknesses on Management and Operations and Status of Key Challenges
GAO-14-576T: Published: May 13, 2014. Publicly Released: May 13, 2014.
Long-standing weaknesses in the Department of Defense's (DOD) financial management adversely affect the economy, efficiency, and effectiveness of its operations. The successful transformation of DOD's financial management processes and operations will allow DOD to routinely generate timely, complete, and reliable financial and other information for day-to-day decision making, including the informa...
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-14-416R: Published: May 12, 2014. Publicly Released: May 12, 2014.
During its audit of the U.S. Securities and Exchange Commission’s (SEC) fiscal year 2013 financial statements, GAO identified several deficiencies in SEC’s internal control over financial reporting that it did not consider to be material weaknesses or significant deficiencies, either individually or collectively, but which nonetheless warrant SEC management’s attention. These deficiencies re...
Management Report: Improvements Needed in CFPB's Internal Controls and Accounting Procedures
GAO-14-455R: Published: May 2, 2014. Publicly Released: May 2, 2014.
GAO’s audit of the Consumer Financial Protection Bureau’s (CFPB) fiscal years 2013 and 2012 financial statements identified two significant deficiencies in CFPB’s internal control over financial reporting as of September 30, 2013. Specifically, GAO found that CFPB did not effectively design or implementinternal control over its year-end accrual process to ensure accounts payable amounts reco...