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Financial statement audits (61 - 70 of 694 items)
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...
Improper Payments: Significant Improvements Needed in DOD's Efforts to Address Improper Payment and Recovery Auditing Requirements
GAO-09-442: Published: Jul 29, 2009. Publicly Released: Jul 29, 2009.
The Department of Defense (DOD) is required, as are other federal executive agencies, to report improper payment information under the Improper Payments Information Act of 2002 (IPIA) and recovery auditing information under section 831 of the National Defense Authorization Act for Fiscal Year 2002, commonly known as the Recovery Auditing Act. The DOD Office of Inspector General has previously repo...
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: Federal Deposit Insurance Corporation Funds' 2008 and 2007 Financial Statements
GAO-09-535: Published: May 28, 2009. Publicly Released: May 28, 2009.
GAO is required to annually audit the financial statements of the Deposit Insurance Fund (DIF) and FSLIC Resolution Fund (FRF), which are administered by the Federal Deposit Insurance Corporation (FDIC). GAO is responsible for obtaining reasonable assurance about whether FDIC's financial statements for DIF and FRF are presented fairly in all material respects, in conformity with U.S. generally acc...
Financial Management Systems: OMB's Financial Management Line of Business Initiative Continues but Future Success Remains Uncertain
GAO-09-328: Published: May 7, 2009. Publicly Released: May 7, 2009.
In March 2004, the Office of Management and Budget (OMB) launched the financial management line of business (FMLOB) initiative, in part, to reduce the cost and improve the quality and performance of federal financial management systems by leveraging shared service solutions and implementing other reforms. In March 2006, GAO reported that OMB's approach did not fully integrate certain fundamental s...
Financial Management: Achieving Financial Statement Auditability in the Department of Defense
GAO-09-373: Published: May 6, 2009. Publicly Released: May 6, 2009.
Since the first financial statement audit was attempted at a major Department of Defense (DOD) component over 20 years ago, GAO and DOD auditors have continued to report significant weaknesses in the department's ability to provide timely, reliable, consistent, and accurate information for management analysis, decision-making, and reporting. DOD has undertaken a number of initiatives over the year...
Financial Audit: Material Weaknesses in Internal Control Continue to Impact Preparation of the Consolidated Financial Statements of the U.S. Government
GAO-09-387: Published: Apr 21, 2009. Publicly Released: Apr 21, 2009.
Since GAO's first audit of the fiscal year 1997 consolidated financial statements of the U.S. government (CFS), material weaknesses in internal control and other limitations on the scope of our work have prevented GAO from expressing an opinion on the accrual basis CFS. Certain of those material weaknesses relate to inadequate systems, controls, and procedures to properly prepare the CFS. The purp...
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-09-376R: Published: Apr 2, 2009. Publicly Released: Apr 2, 2009.
On November 14, 2008, we issued our opinion on the U.S. Securities and Exchange Commission's (SEC) fiscal years 2008 and 2007 financial statements. We also issued our opinion on the effectiveness of SEC's internal control over financial reporting (including safeguarding of assets) and over compliance as of September 30, 2008, and our evaluation of SEC's compliance with selected provisions of laws...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2008 and 2007
GAO-09-293: Published: Feb 27, 2009. Publicly Released: Feb 27, 2009.
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, 2008, and 2007. The audits were done to determine whether, in all material respects, (1) the Commission's financial statements...