Risk management (51 - 60 of 70 items)
High-Risk Areas: Update on Progress and Remaining Challenges
T-HR-97-22: Published: Feb 13, 1997. Publicly Released: Feb 13, 1997.
GAO discussed major government programs and operations it has identified as high risk because of vulnerability to waste, fraud, abuse, and mismanagement and legislative and agency actions that have resulted in progress towards resolving these problems.GAO noted that: (1) without additional attention to resolve problems in the 25 areas that are the current focus of GAO's high-risk initiative, the g...
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...
Managing Customs: Efforts Under Way to Address Management Weaknesses
GGD-95-73: Published: Mar 16, 1995. Publicly Released: Mar 16, 1995.
GAO provided information on the Customs Service's efforts to address weaknesses that GAO identified in its 1993 High Risk Series report on Customs' management.GAO found that Customs has: (1) revised its planning process to set priorities for trade enforcement; (2) improved controls over the identification and collection of duties, taxes, fees, and penalties; (3) reorganized its debt collection uni...
Failed Financial Institutions: RTC/FDIC Risk Fraud and Mismanagement by Employing Those Deemed Culpable
OSI-95-1: Published: Oct 3, 1994. Publicly Released: Nov 10, 1994.
Pursuant to a congressional request, GAO reviewed whether the Resolution Trust Corporation (RTC) and the Federal Deposit Insurance Corporation (FDIC) have sufficient systems to assist hiring and management officials in culpability determinations.GAO found that: (1) RTC and FDIC are vulnerable to fraud, abuse, or mismanagement because they do not systematically screen employees or applicants found...
OMB's High-Risk Program: Comments on the Status Reported in the President's Fiscal Year 1995 Budget
AIMD-94-136: Published: Sep 20, 1994. Publicly Released: Oct 24, 1994.
Pursuant to a congressional request, GAO reviewed the Office of Management and Budget's (OMB) update of its high-risk program, as presented in the President's fiscal year 1995 budget submission, focusing on OMB: (1) deletion of 26 program areas; and (2) progress assessments on the 84 program areas at the beginning of 1994.GAO found that it: (1) agrees with OMB deletions in 8 of the 26 areas, disag...
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...
GAO High-Risk Program
AIMD-94-72R: Published: Jan 27, 1994. Publicly Released: Jan 27, 1994.
GAO provided updated information on its high risk program, focusing on: (1) lending and insuring issues; (2) contracting issues; and (3) accountability issues. GAO noted that: (1) although the Department of Housing and Urban Development (HUD) has made efforts to address program management problems, billions of dollars are at risk because of organizational, systems, and staffing problems; (2) inade...
RTC Western Storm Follow-up
GGD-93-8R: Published: Dec 4, 1992. Publicly Released: Jan 4, 1993.
Pursuant to a congressional request, GAO provided: (1) an assessment of the Resolution Trust Corporation's (RTC) efforts to correct contracting deficiencies in the Western Storm Project; and (2) the results of its inquiry into alleged criminal conduct relating to the award and performance of the Western Storm contract. GAO noted that: (1) poor planning, poor oversight, and the use of an improper c...
Asset Forfeiture: Customs Reports Improved Controls Over Sales of Forfeited Property
GGD-91-127: Published: Sep 25, 1991. Publicly Released: Sep 25, 1991.
Pursuant to a congressional request, GAO reviewed the adequacy of the Customs Service's controls over the sales of forfeited property, focusing on: (1) contractor compliance with reporting requirements on cash sales of more than $10,000; and (2) whether forfeited property was being sold back to Customs laws violators.GAO found that: (1) 104 cash transactions totalling about $2.4 million were not r...
Customs Service Inspector Overtime: Outdated Law and Inefficient Management
T-GGD-91-45: Published: Jun 13, 1991. Publicly Released: Jun 13, 1991.
GAO discussed the U.S. Customs Service's use of overtime for inspectional services. GAO noted that: (1) Customs' inspectional overtime costs grew from $57 million to $103 million from fiscal year (FY) 1985 to FY 1990; (2) Customs paid insufficient attention to managing the day-to-day overtime assignments beyond ensuring that claims were paid expeditiously and individual inspectors did not exceed t...