Financial management systems (81 - 90 of 412 items)
Financial Management: Achieving FFMIA Compliance Continues to Challenge Agencies
GAO-05-881: Published: Sep 20, 2005. Publicly Released: Sep 20, 2005.
The ability to produce the data needed to efficiently and effectively manage the day-to-day 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 implement and maint...
Managerial Cost Accounting Practices: Leadership and Internal Controls Are Key to Successful Implementation
GAO-05-1013R: Published: Sep 2, 2005. Publicly Released: Sep 2, 2005.
Authoritative bodies have promulgated laws, accounting standards, information system requirements, and related guidance to emphasize the need for cost information and cost management in the federal government. In particular, the (1) Chief Financial Officers (CFO) Act of 1990, (2) Statement of Federal Accounting Standards No. 4: Managerial Cost Accounting Concepts and Standards for the Federal Gove...
Internal Revenue Service: Status of Recommendations from Financial Audits and Related Financial Management Reports
GAO-05-393: Published: Apr 29, 2005. Publicly Released: Apr 29, 2005.
In its role as the nation's tax collector, the Internal Revenue Service (IRS) has a demanding responsibility for collecting taxes, processing tax returns, and enforcing the nation's tax laws. Since GAO's first audit of IRS's financial statements in fiscal year 1992, a number of weaknesses in IRS's financial management operations have been identified. In related reports, GAO has recommended correct...
Bureau of the Public Debt: Areas for Improvement in Information Security Controls
GAO-05-467R: Published: Apr 18, 2005. Publicly Released: Apr 18, 2005.
In connection with fulfilling our requirement to audit the financial statements of the U.S. government, we audited and reported on the Schedules of Federal Debt Managed by the Bureau of the Public Debt (BPD) for the fiscal years ended September 30, 2004 and 2003. As part of these audits, we performed a review of the general and application information security controls over key BPD financial syste...
Fiscal Year 2004 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Future Fiscal Challenges
GAO-05-284T: Published: Feb 9, 2005. Publicly Released: Feb 9, 2005.
GAO is required by law to annually audit the consolidated financial statements of the U.S. government. Proper accounting and reporting practices are essential in the public sector. The U.S. government is the largest, most complex, and most diverse entity on earth today. Its services--homeland security, national defense, Social Security, health care, mail delivery, and food inspection, to name a fe...
Financial Audit: IRS's Fiscal Years 2004 and 2003 Financial Statements
GAO-05-103: Published: Nov 10, 2004. Publicly Released: Nov 10, 2004.
Because of the significance of Internal Revenue Service (IRS) collections to federal receipts and, in turn, to the consolidated financial statements of the U.S. government, which 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 IRS prepares are reliable, (2) IRS managem...
Financial Management Systems: HHS Faces Many Challenges in Implementing Its Unified Financial Management System
GAO-04-1089T: Published: Sep 30, 2004. Publicly Released: Sep 30, 2004.
GAO has previously reported on systemic problems the federal government faces in achieving the goals of financial management reform and the importance of using disciplined processes for implementing financial management systems. As a result, the Subcommittee on Government Efficiency and Financial Management, House Committee on Government Reform, asked GAO to review and evaluate the agencies' plans...
Financial Management Systems: Lack of Disciplined Processes Puts Implementation of HHS' Financial System at Risk
GAO-04-1008: Published: Sep 23, 2004. Publicly Released: Sep 30, 2004.
In June 2001, the Secretary of HHS directed the department to establish a unified accounting system that, when fully implemented, would replace five outdated accounting systems. GAO was asked to review HHS' ongoing effort to develop and implement the Unified Financial Management System (UFMS) and to focus on whether the agency has (1) effectively implemented disciplined processes; (2) implemented...
GAO/PCIE: Financial Audit Manual: Update
GAO-04-1015G: Published: Jul 30, 2004. Publicly Released: Jul 30, 2004.
The U.S. Government Accountability Office (GAO) and the President's Council on Integrity and Efficiency (PCIE) maintain the GAO/PCIE Financial Audit Manual (FAM). The FAM provides guidance for performing financial statement audits of federal entities. The FAM is a key tool for enhancing accountability over taxpayer-provided resources...
Financial Management: Department of Homeland Security Faces Significant Financial Management Challenges
GAO-04-774: Published: Jul 19, 2004. Publicly Released: Jul 29, 2004.
When the Department of Homeland Security (DHS) began operations in March 2003, it faced the daunting task of bringing together 22 diverse agencies. This transformation poses significant management and leadership challenges, including integrating a myriad of redundant financial management systems and addressing the existing weaknesses in the inherited components, as well as newly identified weaknes...