Financial records (31 - 40 of 46 items)
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...
Money Laundering: Stakeholders View Recordkeeping Requirements for Cashier's Checks as Sufficient
GGD-95-189: Published: Jul 28, 1995. Publicly Released: Jul 28, 1995.
Pursuant to a legislative requirement and a congressional request, GAO provided information on: (1) the current recordkeeping requirements for cashier checks; and (2) whether federal government and financial industry officials believe that additional recordkeeping requirements should be imposed on those financial institutions issuing cashier checks.GAO found that the Bank Secrecy Act (BSA) require...
Money Laundering: The Volume of Currency Transaction Reports Filed Can and Should Be Reduced
T-GGD-94-113: Published: Mar 15, 1994. Publicly Released: Mar 15, 1994.
GAO discussed proposed legislation to reduce the volume of currency transaction reports (CTR) filed that have no law enforcement value. GAO noted that: (1) the Department of the Treasury maintains two databases of Bank Secrecy Act (BSA) data; (2) federal law enforcement agencies use BSA data to detect trends and develop leads on possible money laundering activities and to track large cash transact...
Legislative Service Organizations: Proposed Accounting Standards and Guidelines
AIMD-94-49: Published: Dec 16, 1993. Publicly Released: Dec 16, 1993.
GAO provided information on proposed accounting standards and guidelines for legislative service organizations (LSO), focusing on whether LSO should: (1) use accrual accounting to report their financial operations; (2) disclose the House regulations that govern their operations; and (3) disclose its relationships with outside organizations.GAO found that: (1) LSO should use accrual basis accountin...
GGD-93-55R: Published: Jul 22, 1993. Publicly Released: Jul 22, 1993.
Pursuant to a congressional request, GAO reviewed the reporting of interest payments on an Internal Revenue Service (IRS) form when the same information is reported on annual cumulative bank statements. GAO noted that: (1) the Interest and Dividend Tax Compliance Act of 1983 requires that payors provide payees with information on interest payments on separate, specified forms that contain no other...
AFMD-93-28R: Published: Dec 23, 1992. Publicly Released: Dec 23, 1992.
GAO reviewed the Army's financial management operations and fiscal year 1991 financial statements, focusing on the legal implications of unsupported year-end adjustments by the U.S. Army's Aviation and Troop Command. GAO noted that the Aviation Command: (1) made unsupported adjustments to its disbursement records which eliminated negative balances in seven fund subdivisions and concealed recorded...
Federal Asset Disposition Association: No Economic Basis for Reported Fee Income Under 1988 Letter Agreement
AFMD-91-15: Published: Jul 29, 1991. Publicly Released: Jul 29, 1991.
GAO reviewed a 1988 letter agreement for asset management services between the Federal Asset Disposition Association (FADA) and the Federal Savings and Loan Insurance Corporation (FSLIC), focusing on: (1) the justification for FSLIC paying FADA for services performed under the letter agreement; and (2) whether FADA fairly presented the FSLIC payments in its December 31, 1988, financial statements...
Guaranteed Loan Programs Are an Increasing Risk
T-AFMD-90-29: Published: Sep 18, 1990. Publicly Released: Sep 18, 1990.
GAO discussed the government's potential financial burden due to billions of dollars invested in faltering and uncollectible guaranteed loans. GAO noted that: (1) at the end of fiscal year (FY) 1989, the government's guaranteed loans totalled almost $588 billion, with $332 billion in guaranteed housing loans; (2) outstanding loan guarantees were expected to total about $838 billion by the end of F...
Oversight Hearings on Asset Forfeiture Programs
T-GGD-90-56: Published: Jul 24, 1990. Publicly Released: Jul 24, 1990.
GAO discussed the Department of Justice's and the U.S. Customs Service's asset forfeiture programs. GAO found that: (1) the volume of seized assets has increased from $33 million in 1979 to $1.4 billion in 1989; (2) inadequate management information has caused deficiencies in providing accurate and timely data; (3) a lack of adequate staff with property management expertise made it difficult to ef...