Financial statement audits (31 - 37 of 37 items)
Financial Audit: IRS' Fiscal Year 1998 Financial Statements
AIMD-99-75: Published: Mar 1, 1999. Publicly Released: Mar 1, 1999.
Pursuant to a legislative requirement, GAO examined the Internal Revenue Service's (IRS) financial statements for the fiscal year (FY) ending September 30, 1998.GAO noted that: (1) pervasive weaknesses in the design and operation of IRS' financial management systems, accounting procedures, documentation, recordkeeping, and internal controls, including computer security controls, prevented IRS from...
Fraud, Waste, and Abuse: The Cost of Mismanagement
AIMD-98-265R: Published: Sep 14, 1998. Publicly Released: Sep 14, 1998.
Pursuant to a congressional request, GAO provided information on examples of the cost of fraud, waste, abuse, or mismanagement in major federal programs.GAO noted that: (1) fraud and abuse in the Department of Agriculture's Food Stamp Program generally occurs in the form of either overpayments to recipients or trafficking, that is, exchanging food stamps for cash or other nonfood items; (2) forgon...
Financial Audit: Examination of IRS' Fiscal Year 1994 Financial Statements
AIMD-95-141: Published: Aug 4, 1995. Publicly Released: Aug 4, 1995.
Pursuant to a legislative requirement, GAO examined the Internal Revenue Service's (IRS) financial statements for fiscal years (FY) 1993 and 1994.GAO found that: (1) critical supporting information for IRS financial statements was not available; (2) the available information was generally unreliable due to ineffective internal controls; (3) IRS internal controls did not effectively safeguard asset...
Financial Audits: CFO Implementation at IRS and Customs
T-AIMD-94-164: Published: Jul 28, 1994. Publicly Released: Jul 28, 1994.
GAO discussed the Internal Revenue Service's (IRS) and the Customs Service's compliance with the Chief Financial Officers (CFO) Act's financial reporting requirements. GAO noted that: (1) although it was unable to provide an opinion on IRS and Customs' fiscal year 1993 financial statements because of continuing financial management problems, IRS and Customs have made significant improvements to th...
Financial Management: IRS Does Not Adequately Manage Its Operating Funds
AIMD-94-33: Published: Feb 9, 1994. Publicly Released: Feb 9, 1994.
GAO reviewed the Internal Revenue Service's (IRS) management of its $6.7 billion in fiscal year (FY) 1992 appropriated operating funds, focusing on whether IRS: (1) managed and expended operating funds in accordance with the limitations and purposes specified by Congress; and (2) properly reported its expenditures.GAO found that: (1) only the IRS national office and central region use the Automate...
Financial Management: First Financial Audits of IRS and Customs Revealed Serious Problems
T-AIMD-93-3: Published: Aug 4, 1993. Publicly Released: Aug 4, 1993.
GAO discussed: (1) financial statement audits at the Internal Revenue Service (IRS) and the Customs Service; and (2) the need for full implementation of Chief Financial Officers (CFO) Act provisions. GAO noted that: (1) IRS and Customs audits have revealed serious financial management problems, such as inaccurate accounts receivable estimates, unreliable property records, and inadequate controls,...
Financial Audit: IRS Significantly Overstated Its Accounts Receivable Balance
AFMD-93-42: Published: May 6, 1993. Publicly Released: May 6, 1993.
Pursuant to a legislative requirement, GAO reviewed the Internal Revenue Service's (IRS) accounts receivable, focusing on: (1) the validity of IRS-reported accounts receivable balance as of June 30, 1991, and the potential effect of related accounting improvement efforts; and (2) the IRS methodology for calculating its allowance for doubtful accounts.GAO found that: (1) only about three-fifths of...