Integrity Act: Treasury's Annual Reporting Needs Improvement
GGD-87-16
Published: Nov 26, 1986. Publicly Released: Nov 26, 1986.
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Highlights
GAO reported on the Department of the Treasury's report on its internal controls under the Federal Managers' Financial Integrity Act of 1982 (FMFIA).
Recommendations
Recommendations for Executive Action
Agency Affected | Recommendation | Status |
---|---|---|
Department of the Treasury | When preparing Treasury's next FMFIA report, the Secretary of the Treasury should give greater consideration to the serious internal control issues in bureau reports, including bureau conclusions that their internal control systems do not provide reasonable assurance that FMFIA objectives are met. |
Closed – Implemented
Treasury's FY 1986 FMFIA report was detailed and specific. All bureau report weaknesses were included in Treasury's report.
|
Department of the Treasury | When preparing Treasury's next FMFIA report, the Secretary of the Treasury should report all previously identified material weaknesses in the annual FMFIA report as material until they are substantially corrected. |
Closed – Implemented
Treasury's FY 1986 FMFIA report included all outstanding weaknesses.
|
Department of the Treasury | When preparing Treasury's next FMFIA report, the Secretary of the Treasury should more specifically describe material weaknesses and the plans and schedules for correcting them. |
Closed – Implemented
Although there were some exceptions, Treasury's FY 1986 FMFIA report complied with this recommendation.
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Topics
Accounting systemsElectronic data processingFunds managementInternal controlsProgram evaluationReporting requirementsSystems evaluationMaterial weaknessesPersonal propertyFinancial management