Financial Integrity Act:
Continuing Efforts Needed To Improve Internal Control and Accounting Systems
AFMD-88-10: Published: Dec 30, 1987. Publicly Released: Dec 30, 1987.
Additional Materials:
- Full Report:
Contact:
GAO reviewed the federal government's internal control and accounting systems, focusing on agencies': (1) progress in complying with the Federal Managers' Financial Integrity Act of 1982; and (2) efforts to correct remaining problems.
GAO found that: (1) agencies reported that more than a third of the serious internal control weaknesses in financial management, procurement, debt collection, and property management which they had cited since 1983 remained uncorrected; and (2) agency self-evaluations identified 229 new weaknesses in 1986. GAO also found that agencies: (1) reported that they had corrected many of their internal control problems; (2) did not always ensure the prompt and effective correction of problems; and (3) sometimes delayed the resolution of audit findings, which could have saved millions of dollars. In addition, GAO found that: (1) agencies' accounting systems did not provide the reliable and timely data they needed to decide policy or manage their operations; (2) agencies' attempts to correct these problems were frequently costly or seriously delayed; and (3) Congress is considering legislation to ensure the implementation and continuity of comprehensive reform of the government's accounting and financial management systems.
Nov 16, 2020
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Financial Audit:
Bureau of Consumer Financial Protection's FY 2020 and FY 2019 Financial StatementsGAO-21-174R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Federal Housing Finance Agency's FY 2020 and FY 2019 Financial StatementsGAO-21-201R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Securities and Exchange Commission's FY 2020 and FY 2019 Financial StatementsGAO-21-192R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020.
Nov 10, 2020
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Financial Audit:
IRS's FY 2020 and FY 2019 Financial StatementsGAO-21-162: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020. -
Financial Audit:
Office of Financial Stability's (Troubled Asset Relief Program) FY 2020 and FY 2019 Financial StatementsGAO-21-173R: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020.
Nov 9, 2020
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Financial Audit:
Bureau of the Fiscal Service's FY 2020 and FY 2019 Schedules of Federal DebtGAO-21-124: Published: Nov 9, 2020. Publicly Released: Nov 9, 2020.
Nov 6, 2020
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FY 2020 Excise Tax:
Agreed-Upon Procedures Related to Distributions to Trust FundsGAO-21-163R: Published: Nov 6, 2020. Publicly Released: Nov 6, 2020.
Oct 13, 2020
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DOD Financial Management:
Continued Efforts Needed to Correct Material Weaknesses Identified in Financial Statement AuditsGAO-21-157: Published: Oct 13, 2020. Publicly Released: Oct 13, 2020.
Sep 30, 2020
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Financial Management:
DOD Needs to Implement Comprehensive Plans to Improve Its Systems EnvironmentGAO-20-252: Published: Sep 30, 2020. Publicly Released: Sep 30, 2020.
Sep 9, 2020
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Defense Real Property:
DOD-Wide Strategy Needed to Address Control Issues and Improve Reliability of RecordsGAO-20-615: Published: Sep 9, 2020. Publicly Released: Sep 9, 2020.
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