Accounting procedures (51 - 60 of 273 items)
Improper Payments: Responses to Posthearing Questions Related to Agencies' Progress in Addressing Improper Payment and Recovery Auditing Requirements
GAO-07-834R: Published: May 30, 2007. Publicly Released: May 30, 2007.
On March 29, 2007, we testified before the Senate Committee on Homeland Security and Governmental Affairs, Federal Financial Management, Government Information, Federal Services, and International Security Subcommittee at a hearing entitled, "Eliminating and Recovering Improper Payments." At the hearing, we discussed federal agencies' progress in addressing key requirements of the Improper Payment...
Federal Financial Management: Critical Accountability and Fiscal Stewardship Challenges Facing Our Nation
GAO-07-542T: Published: Mar 1, 2007. Publicly Released: Mar 1, 2007.
The foundation laid by the Chief Financial Officers Act of 1990 and other management reform legislation provided a much needed statutory basis to improve the accountability of government programs and operations. Such reforms were intended to produce reliable, timely, and useful financial information to help manage day-to- day operations and exercise oversight and promote fiscal stewardship. This t...
Improper Payments: Posthearing Questions Related to Agencies Meeting the Requirements of the Improper Payments Information Act of 2002
GAO-06-1067R: Published: Sep 6, 2006. Publicly Released: Sep 6, 2006.
On March 9, 2006, we testified before Congress at a hearing entitled, "Reporting Improper Payments: A Report Card on Agencies' Progress." At the hearing, we discussed our findings on federal agencies' challenges in meeting the requirements of the Improper Payments Information Act (IPIA) of 2002 based on our review of agencies' fiscal year 2005 performance and accountability reports (PAR) and annua...
Internal Control: Analysis of Joint Study on Estimating the Costs and Benefits of Rendering Opinions on Internal Control over Financial Reporting in the Federal Environment
GAO-06-255R: Published: Sep 6, 2006. Publicly Released: Sep 6, 2006.
The Department of Homeland Security (DHS) Financial Accountability Act, Public Law Number 108-330, requires DHS management to provide an assertion on the internal control that applies to financial reporting for fiscal year 2005 and to obtain an auditor's opinion on the department's internal control over its financial reporting for fiscal year 2006. The act also directs the Chief Financial Officers...
Financial Audit: Significant Internal Control Weaknesses Remain in Preparing the Consolidated Financial Statements of the U.S. Government
GAO-06-415: Published: Apr 21, 2006. Publicly Released: Apr 21, 2006.
For the past 9 years, since our 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 resulted in conditions that prevented GAO from expressing an opinion on the CFS. Specifically, GAO has reported that the U.S. government did not have adequate systems, con...
Fiscal Year 2005 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Financial Condition and Long-term Fiscal Imbalance
GAO-06-406T: Published: Mar 1, 2006. Publicly Released: Mar 1, 2006.
GAO is required by law to annually audit the consolidated financial statements of the U.S. government. The Congress and the President need to have timely, reliable, and useful financial and performance information. Sound decisions on the current results and future direction of vital federal government programs and policies are made more difficult without such information. Until the problems discus...
Financial Audit: Restatements to the Department of State's Fiscal Year 2003 Financial Statements
GAO-05-814R: Published: Sep 20, 2005. Publicly Released: Sep 20, 2005.
The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and Congress. We are required to audit these consolidated financial statements (CFS) and report on the results of our work. An issue meriting concern and close scrutiny that eme...
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...
Financial Management: Audit of the White House Commission on the National Moment of Remembrance for Fiscal Year 2004
GAO-05-791R: Published: Jul 21, 2005. Publicly Released: Jul 21, 2005.
The White House Commission on the National Moment of Remembrance (Commission) was created on December 28, 2000, by the National Moment of Remembrance Act (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 million to the Commission to fu...
DOD Problem Disbursements: Long-standing Accounting Weaknesses Result in Inaccurate Records and Substantial Write-offs
GAO-05-521: Published: Jun 2, 2005. Publicly Released: Jun 2, 2005.
Over the years, the Department of Defense (DOD) has recorded billions of dollars of disbursements and collections in suspense accounts because the proper appropriation accounts could not be identified and charged. DOD has also been unable to resolve discrepancies between its and Treasury's records of checks issued by DOD. Because documentation that would allow for resolution of these payment recor...