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Financial Audit: IRS's Fiscal Years 2005 and 2004 Financial Statements

GAO-06-137 Published: Nov 10, 2005. Publicly Released: Nov 10, 2005.
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Highlights

Because of the significance of Internal Revenue Service (IRS) collections to federal receipts and, in turn, to the consolidated financial statements of the U.S. government, which GAO is required to audit, and Congress's interest in financial management at IRS, GAO audits IRS's financial statements annually to determine whether (1) the financial statements IRS prepares are reliable and (2) IRS management maintained effective internal controls. We also test IRS's compliance with selected provisions of significant laws and regulations and its financial management systems' compliance with the Federal Financial Management Improvement Act of 1996 (FFMIA).

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AccountabilityFinancial managementFinancial management systemsFinancial statement auditsInformation securityInternal controlsNoncomplianceReporting requirementsTaxpayersFinancial statements