Financial Audit:
Federal Deposit Insurance Corporation's Management Letter as of December 31, 1993
AIMD-94-160ML: Published: Aug 29, 1994. Publicly Released: Aug 29, 1994.
Additional Materials:
- Full Report:
Contact:
GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) accounting procedures and internal controls that warrant management attention, focusing on: (1) corporate operations; (2) consolidated office operations; (3) serviced asset pool operations; and (4) electronic data processing. GAO noted that: (1) FDIC account balances are not always reconciled on a timely basis; (2) FDIC reconciliations are not always approved by appropriate FDIC personnel; (3) FDIC could improve the validity and accuracy of its transactions; (4) FDIC has weaknesses in its general ledger account reconciliations, check receipt, and disbursement processes; (5) serviced asset balances are not properly reconciled; (6) FDIC transactions have been misclassified in servicers' financial activity reports; (7) loan servicer audits are not performed promptly; (8) servicers' accounting for subsidiary assets differs from FDIC; (9) contract servicers do not obtain audit coverage in all critical areas; and (10) FDIC does not have adequate electronic data processing controls to ensure that its computer files and programs are protected from unauthorized access or modification.
Oct 13, 2020
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.
Oct 7, 2020
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The Nation's Fiscal Health:
A Long-Term Plan Is Needed for Fiscal SustainabilityGAO-21-161T: Published: Oct 7, 2020. Publicly Released: Oct 7, 2020. -
Unaccompanied Children:
Actions Needed to Improve Grant Application Reviews and Oversight of Care FacilitiesGAO-20-609: Published: Sep 15, 2020. Publicly Released: Oct 7, 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.
Aug 25, 2020
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Management Report:
Improvements Needed in Controls over the Processes Used to Prepare the U.S. Consolidated Financial StatementsGAO-20-586: Published: Aug 25, 2020. Publicly Released: Aug 25, 2020.
Aug 6, 2020
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Federal Financial Management:
Substantial Progress Made since Enactment of the 1990 CFO Act; Refinements Would Yield Added BenefitsGAO-20-566: Published: Aug 6, 2020. Publicly Released: Aug 6, 2020.
Jun 17, 2020
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Improper Payments:
Improvements Needed to Ensure Reliability and Accuracy in DOE's Risk Assessments and ReportingGAO-20-442: Published: Jun 17, 2020. Publicly Released: Jun 17, 2020.
Jun 10, 2020
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Civil Monetary Penalties:
Review of Federal Agencies' Compliance with the 2019 Annual Inflation Adjustment RequirementsGAO-20-538R: Published: Jun 10, 2020. Publicly Released: Jun 10, 2020.
Jun 8, 2020
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Inspectors General:
Independence Principles and Considerations for ReformGAO-20-639R: Published: Jun 8, 2020. Publicly Released: Jun 8, 2020.
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