Financial management (11 - 20 of 567 items)
Senate Preservation Fund: Key Transaction-Related Operating Practices Have Been Established but Additional Practices Are Needed
GAO-09-89R: Published: Jul 28, 2009. Publicly Released: Jul 28, 2009.
In September 2003, the Senate Preservation Fund (Fund) was established within the U.S. Treasury. The Fund is available to the Senate Commission on Art (Commission) to fund various activities related to works of art, historical objects, documents, and materials relating to historical matters, or exhibits in the Capitol and Senate Office buildings. The Library of Congress (Library) provides financia...
American Battle Monuments Commission: Management Action Needed to Improve Internal Control Procedures
GAO-09-714R: Published: Jun 17, 2009. Publicly Released: Jun 17, 2009.
On February 27, 2009, we issued our report expressing our opinion on the American Battle Monuments Commission's (the Commission) fiscal years 2008 and 2007 financial statements and our opinion on the Commission's internal control as of September 30, 2008. We also reported on the results of our tests of the Commission's compliance with selected provisions of laws and regulations during fiscal year...
Review of Special Counsel Expenses for 6 Months Ended September 30, 2008
GAO-09-367R: Published: Mar 31, 2009. Publicly Released: Mar 31, 2009.
This report presents the results of GAO's review of the expenses of the Office of Special Counsel-Patrick J. Fitzgerald (OSC-Fitzgerald) for the 6 months ended September 30, 2008. The expenses we reviewed were those made by the Department of Justice (DOJ) between April 1, 2008, and September 30, 2008, from the permanent, indefinite appropriation (fund) for OSC-Fitzgerald. To determine if there wer...
Securities and Exchange Commission: Oversight of U.S. Equities Market Clearing Agencies
GAO-09-318R: Published: Feb 26, 2009. Publicly Released: Mar 26, 2009.
An effective clearance and settlement process is vital to the functioning of equities markets. When investors agree to trade an equity security, the purchaser promises to deliver cash to the seller and the seller promises to deliver the security to the purchaser. The process by which the seller receives payment and the buyer, the securities, is known as clearance and settlement. In the United Stat...
Counterdrug Technology Assessment Center: Clarifying Rationale for the Research and Development Funding Decisions Would Increase Accountability
GAO-09-339R: Published: Mar 12, 2009. Publicly Released: Mar 12, 2009.
This letter formally transmits the summary of an oral briefing we gave on December 8, 2008, and subsequent agency comments. We gave this briefing in response to Senate Report 110-129, accompanying the 2008 Financial Services and General Government Appropriations Bill. In accordance with direction in that report, and in consultation with House and Senate Appropriation Committee staff, we are report...
DOD's High Risk Areas: Actions Needed to Reduce Vulnerabilities and Improve Business Outcomes
GAO-09-460T: Published: Mar 12, 2009. Publicly Released: Mar 12, 2009.
The Department of Defense (DOD) spends billions of dollars to sustain key business operations intended to support the warfighter. In January, GAO released its 2009 high-risk series update report for the 111th Congress. This series emphasizes federal programs and operations that are at high risk because of vulnerabilities to fraud, waste, abuse, and mismanagement and has also evolved to draw attent...
Certificated Expenditures: Executive Office of the President Fiscal Year 2007 Certificated Expenditures Were Used for Authorized Purposes
GAO-09-305: Published: Feb 17, 2009. Publicly Released: Feb 17, 2009.
Pursuant to 3 U.S.C. 105(d) and 106(b), we reviewed certificated expenditures from fiscal year 2007 appropriations of the President of the United States and the Vice President of the United States. These sections authorize the President and the Vice President to expend appropriated funds for certain specified purposes that may be accounted for solely on their certificates and as they determine, no...
Status of GAO Recommendations to the Department of Defense (Fiscal Years 2001-2007)
GAO-09-201R: Published: Dec 11, 2008. Publicly Released: Dec 11, 2008.
Section 402 of the Concurrent Resolution on the Budget for Fiscal Year 2009 required us to report to the appropriate congressional committees by the end of the 110th Congress regarding the Department of Defense's (DOD) progress in implementing GAO's recommendations over the last 7 years. During this period of time, we issued 637 reports to DOD or its components that included 2,726 recommendations...
USA Patriot Act: Better Interagency Coordination and Implementing Guidance for Section 311 Could Improve U.S. Anti-Money Laundering Efforts
GAO-08-1058: Published: Sep 30, 2008. Publicly Released: Oct 30, 2008.
Since September 11, 2001, the United States has established tools to address the threat to the U.S. financial system of money laundering and terrorist financing. One such tool is Section 311 of the USA PATRIOT Act of 2001, which authorizes the Secretary of the Treasury (Treasury) to prohibit U.S. financial institutions from maintaining certain accounts for foreign banks if they involve foreign jur...
Private Equity: Recent Growth in Leveraged Buyouts Exposed Risks That Warrant Continued Attention
GAO-08-885: Published: Sep 9, 2008. Publicly Released: Oct 7, 2008.
The increase in leveraged buyouts (LBO) of U.S. companies by private equity funds prior to the slowdown in mid-2007 has raised questions about the potential impact of these deals. Some praise LBOs for creating new governance structures for companies and providing longer term investment opportunities for investors. Others criticize LBOs for causing job losses and burdening companies with too much d...