Accounting procedures (21 - 30 of 61 items)
Financial Audit: Independent Counsel Expenditures for the Six Months Ended September 30, 1996
AIMD-97-64: Published: Mar 31, 1997. Publicly Released: Mar 31, 1997.
Pursuant to a legislative requirement, GAO audited the expenditures of 6 independent counsels for the 6 months ended September 30, 1996.GAO noted that: (1) the counsels' statements of expenditures were reliable in all material respects and fairly presented the respective expenditures of their offices for the 6 months ended September 30, 1996; (2) there were no material internal control weaknesses...
Reliable Financial Information: A Key to Effective Program Management and Accountability
158699: Jan 1, 1997
GAO presented information on the need for reliable financial information systems for formulating budgets, managing government program operations, and making difficult policy and program decisions...
Employee Travel Claims (DOI)
AIMD-97-25R: Published: Dec 13, 1996. Publicly Released: Dec 13, 1996.
GAO provided information on whether it is permissible to: (1) verify the validity of travel claims for temporary duty (TDY) travel vouchers not exceeding $2,500 after, rather than prior to, payment certification; and (2) perform such postpayment validation procedures on a statistical sampling basis. GAO noted that: (1) for travel vouchers processed under the automated portion of the Department of...
Financial Derivatives: Actions Taken or Proposed Since May 1994
GGD/AIMD-97-8: Published: Nov 1, 1996. Publicly Released: Nov 1, 1996.
GAO conducted a follow-up review of the regulation of financial derivative products, focusing on actions taken or proposed since May 1994 to: (1) strengthen corporate governance and internal controls for derivatives dealers and major end-users; (2) improve regulation of major U.S. derivatives dealers; (3) provide federal oversight of major derivatives dealers that are unregulated affiliates of sec...
AIMD-96-161R: Published: Sep 25, 1996. Publicly Released: Sep 25, 1996.
GAO reported on its audit of the Congressional Award Foundation's fiscal year 1995 financial statements, focusing on policy and procedure improvements that the Foundation could make relating to separation of duties, documentation of transactions and balances, and reconciliations. GAO noted that, to improve internal controls, the Foundation could amend its policies and procedures to: (1) require pe...
The Accounting Profession: Major Issues: Progress and Concerns
AIMD-96-98: Published: Sep 24, 1996. Publicly Released: Sep 24, 1996.
Pursuant to a congressional request, GAO reviewed recommendations, made by major study groups over the past two decades, to the accounting profession, focusing on: (1) actions the profession has taken between 1972 and 1995 to improve accounting and auditing standards and the performance of independent audits under federal securities laws; and (2) unresolved issues and their impact on the performan...
Contingency Operations: DOD's Reported Costs Contain Significant Inaccuracies
NSIAD-96-115: Published: May 17, 1996. Publicly Released: May 17, 1996.
Pursuant to a congressional request, GAO reviewed the reliability of the Department of Defense's (DOD) reported costs for contingency operations, focusing on the: (1) accuracy of reported incremental costs; and (2) adequacy of DOD guidance and accounting systems to ensure accurate cost reporting.GAO found that: (1) DOD overstated about $104 million in incremental costs and understated or failed to...
Financial Audit: Independent Counsel Expenditures for the Six Months Ended September 30, 1995
AIMD-96-67: Published: Mar 29, 1996. Publicly Released: Mar 29, 1996.
Pursuant to a legislative requirement, GAO audited the expenditures of eight independent counsels for the 6 months ended September 30, 1995, focusing on their reliability, internal controls, and compliance with applicable laws and regulations.GAO found that: (1) the counsels' statements of expenditures were reliable in all material respects and fairly presented the respective expenditures of their...
AIMD-95-225R: Published: Aug 24, 1995. Publicly Released: Aug 24, 1995.
GAO reviewed the Pension Benefit Guaranty Corporation's (PBGC) accounting procedures and internal controls that warranted management's attention as of September 30, 1994. GAO noted that PBGC: (1) used evidence about significant transactions that occurred after year-end in assessing its year-end contingent liabilities; (2) misclassified several pension plans based on their prior year classification...
Financial Derivatives: Actions Needed to Protect the Financial System
GGD-94-133: Published: May 18, 1994. Publicly Released: May 18, 1994.
Pursuant to congressional requests, GAO reviewed financial derivative products, focusing on: (1) the extent and nature of derivatives' use; (2) what risks derivatives pose to individual firms and the financial system; (3) firms' and regulators' attempts to control these risks; (4) gaps and inconsistencies in U.S. regulation of derivatives; (5) whether financial reports provided adequate informatio...