Financial statements (11 - 20 of 93 items)
Fiscal Year 2013 Performance Plan
GAO-12-463SP: Published: Mar 1, 2012. Publicly Released: Mar 28, 2012.
This report presents the Government Accountability Office's (GAO) Performance Plan for Fiscal Year 2013. In the spirit of the Government Performance and Results Act, this annual plan informs the Congress and the American people about what we expect to accomplish on their behalf in the coming fiscal year. It sets forth our plan to make progress toward achieving our strategic goals for serving the...
Management Report: Improvements Are Needed in Internal Control over Financial Reporting for the Troubled Asset Relief Program
GAO-12-415R: Published: Feb 13, 2012. Publicly Released: Feb 13, 2012.
During fiscal year 2011, OFS addressed several of the internal control issues related to the significant deficiency we reported for fiscal year 2010 concerning its accounting and financial reporting processes. However, remaining uncorrected control deficiencies along with other control deficiencies that we identified in this area in fiscal year 2011 collectively represented a continuing significan...
U.S. Postal Service: Modernization and Restructuring Needed to Address Financial Challenges
GAO-11-428T: Published: Mar 2, 2011. Publicly Released: Mar 2, 2011.
The U.S. Postal Service's (USPS) financial condition and outlook are deteriorating because revenues are not sufficient to cover its expenses and financial obligations. These challenges continue to threaten USPS's financial viability and GAO has therefore retained USPS on its high risk list issued in February 2011. USPS also faces cost pressures from maintaining a national network of processing, re...
Management Report: Opportunities for Improvements in FDIC's Internal Controls and Accounting Procedures
GAO-11-23R: Published: Nov 30, 2010. Publicly Released: Nov 30, 2010.
In June 2010, we issued our report on the results of our audit of the financial statements of the Deposit Insurance Fund (DIF) and the FSLIC Resolution Fund (FRF) as of, and for the years ending December 31, 2009, and 2008, and on the effectiveness of the Federal Deposit Insurance Corporation's (FDIC) internal control over financial reporting as of December 31, 2009. We also reported our conclusio...
Iraqi-U.S. Cost-Sharing: Iraq Has a Cumulative Budget Surplus, Offering the Potential for Further Cost-Sharing
GAO-10-304: Published: Sep 13, 2010. Publicly Released: Sep 13, 2010.
Since 2003, the United States has reported obligating $642 billion for U.S. military operations in Iraq and provided about $24 billion for training, equipment, and other services for Iraqi security forces. To assist Congress in overseeing efforts to encourage the Iraqi government to contribute more toward the cost of securing and stabilizing Iraq, this report provides information on (1) the amount...
Management Report: Opportunities for Improvements in the Congressional Award Foundation's Internal Controls and Accounting Procedures
GAO-10-964R: Published: Sep 9, 2010. Publicly Released: Sep 9, 2010.
In May 2010, we issued our opinion on the fiscal years 2009 and 2008 financial statements of the Congressional Award Foundation (the Foundation). We also reported on our evaluation of the Foundation's compliance with provisions of selected laws and regulations for the fiscal year ended September 30, 2009, and our consideration of the Foundation's internal control over financial reporting. The Foun...
Management Report: Improvements Needed in American Battle Monuments Commission's Internal Controls and Accounting Procedures
GAO-10-596R: Published: Jul 23, 2010. Publicly Released: Jul 23, 2010.
On March 1, 2010, we issued our report expressing our opinion on the American Battle Monuments Commission's (the Commission) fiscal years 2009 and 2008 financial statements and our opinion on the Commission's internal control as of September 30, 2009. We also reported on the results of our tests of the Commission's compliance with selected provisions of laws and regulations during fiscal year 2009...
U.S. Government Financial Statements: Fiscal Year 2009 Audit Highlights Financial Management Challenges and Unsustainable Long-Term Fiscal Path
GAO-10-483T: Published: Apr 14, 2010. Publicly Released: Apr 14, 2010.
GAO annually audits the consolidated financial statements of the U.S. government (CFS). 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. The federal government began preparing the CFS 13 years ago. Over the years, certain material weaknesses in inte...
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-10-443R: Published: Mar 31, 2010. Publicly Released: Mar 31, 2010.
On November 16, 2009, we issued our opinion on the U.S. Securities and Exchange Commission's (SEC) fiscal years 2009 and 2008 financial statements. We also issued our opinion on the effectiveness of SEC's internal controls over financial reporting as of September 30, 2009, and our evaluation of SEC's compliance with selected provisions of laws and regulations during fiscal year 2009. The purpose o...
U.S. Postal Service: Financial Crisis Demands Aggressive Action
GAO-10-538T: Published: Mar 18, 2010. Publicly Released: Mar 18, 2010.
The U.S. Postal Service's (USPS) financial condition and outlook deteriorated significantly during fiscal year 2009. USPS was not able to cut costs fast enough to offset declining mail volume and revenues resulting from the economic recession and changes in the use of mail, such as electronic bill payment. In July 2009, GAO added USPS's financial condition and outlook to its High-Risk List and rep...