Financial Management: USDA Faces Major Financial Management Challenges
T-AIMD-00-115
Published: Mar 21, 2000. Publicly Released: Mar 21, 2000.
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Highlights
Pursuant to a congressional request, GAO discussed the financial management issues facing the Department of Agriculture (USDA), focusing on problems in the areas of: (1) implementing the Federal Credit Reform Act (FCRA) of 1990 and related accounting standards; (2) reconciling its Fund Balance with Treasury accounts; (3) addressing weaknesses in the Forest Service's financial accounting and reporting; (4) correcting certain other material internal control weaknesses; and (5) complying with some key laws and regulations.
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AccountabilityAccounting standardsData integrityFederal agency accounting systemsFinancial management systemsFinancial statement auditsGovernment guaranteed loansInternal controlsNoncomplianceReporting requirements