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Click to visit. http://www.gao.gov/products/?source=ra Press ReleaseSignificant Financial Management and Fiscal Challenges Reflected in the U.S. Government's 2011 Financial ReportWASHINGTON (December 23, 2011) - The U.S. Government Accountability Office (GAO) cannot render an opinion on the 2011 consolidated financial statements of the federal government, because of widespread material internal control weaknesses, significant uncertainties, and other limitations.As was the case in 2010, the main obstacles to a GAO opinion on the accrual- based consolidated financial statements were: (1) serious financial management problems at the Department of Defense (DOD) that made its financial statements unauditable, (2) the federal government’s inability to adequately account for and reconcile intragovernmental activity and balances between federal agencies, and (3) the federal government’s ineffective process for preparing the consolidated financial statements.While the vast majority of the 24 CFO Act Agencies received unqualified opinions, DOD and the Department of Homeland Security (DHS) have consistently been unable to receive such audit opinions. Efforts are underway at both agencies to address this situation. At DOD, following years of unsuccessful financial improvement efforts, the Comptroller established the Financial Improvement and Audit Readiness Directorate to develop, manage, and implement a strategic approach for addressing weaknesses and for achieving auditability. DHS was able to attain a qualified audit opinion on its fiscal year 2011 Balance Sheet and Statement of Custodial Activity for the first time since 2003. “This is a significant achievement for DHS,” said Gene Dodaro, Comptroller General of the United States and head of the GAO.Dodaro added, “But even though progress has been made, our report illustrates that much work remains to be done to improve federal financial management.” Treasury is undertaking both short-term and long-term initiatives to improve intragovernmental imbalances. Resolving this problem will also require a strong and sustained commitment by federal entities.In addition, GAO was unable to render an opinion on the 2011 Statement of Social Insurance and the 2011 Statement of Changes in Social Insurance Amounts because of significant uncertainties, primarily related to the achievement of projected reductions in Medicare cost growth. The consolidated financial statements discuss these uncertainties, which relate to reductions in physician payment rates and to productivity improvements, and provide an alternative projection to illustrate the uncertainties.Dodaro also cited material weaknesses involving an estimated $115.3 billion in improper payments, information security across government, and tax collection activities.“The comprehensive fiscal projections presented in the 2011 Financial Report show that –absent policy changes – the federal government continues to face an unsustainable long-term fiscal path,” Dodaro said. “While the Budget Control Act of 2011 improved the outlook, it did not fundamentally change the longer-term path over the next few decades. Dealing with the federal government’s longer-term fiscal challenges will require sustained attention and difficult decisions. These fiscal challenges further highlight the need for the Congress, the administration, and federal managers to have reliable and complete financial and performance information both for individual federal entities and for the federal government as a whole.”Dodaro also commended the commitment and professionalism of the Inspectors General across government who are responsible for auditing the annual financial statements of individual federal entities each year.The fiscal year 2011 Financial Report of the United States Government, which includes financial information from the 24 major federal departments and agencies along with GAO’s audit report, is being released today by the Treasury Department. The report is also available on GAO’s web site at http://www.gao.gov/financial.html.For more information, contact GAO’s Office of Public Affairs, at (202) 512-4800.###The Government Accountability Office, known as the investigative arm of Congress, exists to support Congress in meeting its constitutional responsibilities. GAO also works to improve the performance of the federal government and ensure its accountability to the American people. The agency examines the use of public funds; evaluates federal programs and policies; and provides analyses, recommendations, and other assistance to help Congress make informed oversight, policy, and funding decisions. GAO’s commitment to good government is reflected in its core values of accountability, integrity, and reliability. Fri, 23 Dec 2011 12:00:00 -0500 http://www.gao.gov/press/bestplaceswork_2011nov16.html?source=ra The Partnership for Public Service and Washingtonian magazine have included the U.S. Government Accountability Office (GAO) in their latest lists of the best places to work. Tue, 15 Nov 2011 12:00:00 -0500 http://www.gao.gov/press/peer_review_2011oct31.html?source=ra An international peer review team has given the U.S. Government Accountability Office (GAO) a "clean opinion" on the quality assurance system GAO uses to conduct performance and financial audits. The review states that the GAO reports it examined "were of very high quality, where the strengths of GAO were paramount in providing Congress and the public with reliable information." Sun, 30 Oct 2011 13:00:00 -0400 http://www.gao.gov/press/facebook_2011sep06.html?source=ra The U.S. Government Accountability Office (GAO) continues its efforts to utilize emerging technologies in support of its mission by joining the world's largest online social network, Facebook. With over 750 million active users spending over 700 billion minutes on the site each month, Facebook will allow GAO to make its work available in real time to a wide range of audiences. Tue, 06 Sep 2011 01:09:00 -0400 http://www.gao.gov/press/elmer_staats_2011jul25.html?source=ra Gene L. Dodaro, Comptroller General of the United States and head of the Government Accountability Office, today observed the passing of Elmer B. Staats, who headed GAO from 1966 to 1981. Staats died Saturday, July 23, in Washington, D.C., at the age of 97. Mon, 25 Jul 2011 01:07:00 -0400 http://www.gao.gov/press/feca_fraud_2011jul14.html?source=ra The U.S. Government Accountability Office (GAO) is investigating fraud and abuse in the Federal Employees' Compensation Act (FECA) program. Specifically, GAO is looking for information on cases in which federal employees are currently abusing workers compensation benefits. Thu, 14 Jul 2011 01:07:00 -0400 http://www.gao.gov/press/90th_anniversary_2011july01.html?source=ra Today the U.S. Government Accountability Office (GAO) marks its 90th anniversary. Since President Warren G. Harding signed the Budget and Accounting Act of 1921, GAO has supported Congress by tracking taxpayer dollars in order to help improve the performance of the federal government and ensure its accountability for the benefit of the American people. Fri, 01 Jul 2011 01:07:00 -0400 http://www.gao.gov/about/hcac/medpac11.html?source=ra Gene L. Dodaro, Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO), today announced the appointment of two new members and the reappointment of three existing members to the Medicare Payment Advisory Commission (MedPAC). The official announcement will be published in the Federal Register. Tue, 31 May 2011 01:05:00 -0400 http://www.gao.gov/press/high_risk_list_2011feb16.html?source=ra The U.S. Government Accountability Office (GAO) today released the biennial update to its list of federal programs and operations at "high risk" for waste, fraud, abuse, and mismanagement or needing broad-based transformation. Wed, 16 Feb 2011 00:02:00 -0500 http://www.gao.gov/press/flickr_2011feb10.html?source=ra The U.S. Government Accountability Office's (GAO) latest step into the world of new and social media communication is an agency presence on the image-sharing website Flickr. The GAO Flickr page features selected photos and graphics from GAO reports that are searchable, viewable, and downloadable by visitors to the site. Thu, 10 Feb 2011 00:02:00 -0500 http://www.gao.gov/press/internal_inspection_2011feb08.html?source=ra The U.S. Government Accountability Office (GAO) today sent to Congressional requesters the results of an internal inspection to determine why the agency needed to make changes to an August report on for-profit schools (GAO-10-948T). Tue, 08 Feb 2011 00:02:00 -0500 http://www.gao.gov/press/pcori_2011jan21.html?source=ra Gene L. Dodaro, Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO), today announced the appointment of 15 members to the Methodology Committee of the Patient-Centered Outcomes Research Institute (PCORI). Fri, 21 Jan 2011 00:01:00 -0500 http://www.gao.gov/press/dodaro_swearing_in.html?source=ra Gene L. Dodaro was sworn in today as the eighth Comptroller General of the United States and head of the Government Accountability Office (GAO), an independent, legislative-branch agency that helps oversee federal programs. Thu, 30 Dec 2010 00:12:00 -0500 http://www.gao.gov/press/financial_report_2010dec21.html?source=ra The U.S. Government Accountability Office (GAO) cannot render an opinion on the 2010 consolidated financial statements of the federal government, because of widespread material internal control weaknesses, significant uncertainties, and other limitations. "Even though significant progress has been made since the enactment of key financial management reforms in the 1990s, our report on the U.S. government's consolidated financial statement illustrates that much work remains to be done to improve federal financial management. Shortcomings in three areas again prevented us from expressing an opinion on the accrual-based financial statements," said Gene Dodaro, Acting Comptroller General of the United States. The main obstacles to a GAO opinion were: (1) serious financial management problems at the Department of Defense (DOD) that made its financial statements unauditable, (2) the federal government's inability to adequately account for and reconcile intragovernmental activity and balances between federal agencies, and (3) the federal government's ineffective process for preparing the consolidated financial statements. Tue, 21 Dec 2010 00:12:00 -0500 http://www.gao.gov/press/pcori_2010nov12.html?source=ra Acting Comptroller General of the United States Gene Dodaro today announced the appointment of Gail Gibson Hunt, President and CEO of the National Alliance for Caregiving, to the Governing Board of the Patient Centered Outcomes Research Institute (PCORI). Fri, 12 Nov 2010 00:11:00 -0500 http://www.gao.gov/press/union_term_agreement_2010nov10.html?source=ra Tentative agreement on the first Master Collective Bargaining Agreement (CBA) has been reached between the Government Accountability Office (GAO) and the GAO Employees Organization, IFPTE Local 1921, the union at GAO. Wed, 10 Nov 2010 00:11:00 -0500 http://www.gao.gov/press/tanker_statement2010_oct06.html?source=ra On Wednesday, October 6, the U.S. Government Accountability Office denied a protest by U.S. Aerospace, Inc. challenging a decision by the Air Force to reject as late the protester's proposal for the KC-X tanker modernization program. This legal decision by GAO's attorneys concludes that the U.S. Aerospace proposal to build the KC-X tanker was received after the deadline for the receipt of proposals. Consequently the Air Force acted appropriately in rejecting the proposal. The decision addresses both the initial protest, and supplemental issues raised by the company. Any inquiries about the ongoing procurement for the KC-X tanker modernization program should be directed to the Air Force. Wed, 06 Oct 2010 01:10:00 -0400 http://www.gao.gov/press/e-report_2010oct01.html?source=ra Beyond the usual findings and recommendations for improving federal operations, a new report from the U.S. Government Accountability Office (GAO) is the first to offer a web-based E-Report format to help users navigate content more easily. Fri, 01 Oct 2010 01:10:00 -0400 http://www.gao.gov/press/nhcwc_2010sep30.html?source=ra Gene L. Dodaro, Acting Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO), today announced the appointment of 15 members to the new National Health Care Workforce Commission. Thu, 30 Sep 2010 01:09:00 -0400 http://www.gao.gov/press/pcori2010sep23.html?source=ra Gene L. Dodaro, Acting Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO), today announced the appointment of 19 members to the Board of Governors for the new Patient-Centered Outcomes Research Institute (PCORI). Thu, 23 Sep 2010 01:09:00 -0400 http://www.gao.gov/press/best_places_2010sep01.html?source=ra Gene L. Dodaro, Acting Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO), today welcomed the announcement that GAO has again been rated number two among the best places to work in the federal government. Wed, 01 Sep 2010 01:09:00 -0400 http://www.gao.gov/press/mobile_2010jul28.html?source=ra As part of its continuing efforts to make its findings and recommendations available to a wide range of audiences, the U.S. Government Accountability Office (GAO) has launched a mobile version of its website that will allow users to more easily access GAO reports on their BlackBerrys, iPhones, Droids, and other small-screen mobile devices. Wed, 28 Jul 2010 01:07:00 -0400 http://www.gao.gov/press/co_op2010jun23.html?source=ra Gene L. Dodaro, Acting Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO), today announced the appointment of 15 members to the Advisory Board to the Consumer Operated and Oriented Plan (CO-OP) Program. The board, newly created by the Patient Protection and Affordable Care Act, will make recommendations to the Department of Health and Human Services on grants and loans to establish nonprofit, member-run health insurers serving the individual and small-group markets. Wed, 23 Jun 2010 01:06:00 -0400 http://www.gao.gov/hcac/medpac10.html?source=ra Gene L. Dodaro, Acting Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO), today announced the appointment of four new members and the reappointment of two existing members to the Medicare Payment Advisory Commission (MedPAC). The official announcement will be published in the Federal Register. Fri, 14 May 2010 01:05:00 -0400 http://www.gao.gov/press/haiti_2010mar31.html?source=ra The U.S. Government Accountability Office (GAO) has launched a new webpage highlighting its work on U.S. domestic and international disaster relief. The webpage will make it easier to find GAO reports and testimonies that can help Congress and the Administration make informed decisions on U.S. aid to Haiti following the recent earthquake and develop strategies to address other natural disasters in the future. Wed, 31 Mar 2010 01:03:00 -0400