Financial Audit: Examination of IRS' Fiscal Year 1994 Financial Statements
AIMD-95-141
Published: Aug 04, 1995. Publicly Released: Aug 04, 1995.
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Highlights
Pursuant to a legislative requirement, GAO examined the Internal Revenue Service's (IRS) financial statements for fiscal years (FY) 1993 and 1994.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Internal Revenue Service | The Commissioner of IRS should direct the Chief Financial Officer to implement software, hardware, and procedural changes needed to create reliable subsidiary accounts receivable and revenue records that are fully integrated with the general ledger. |
Closed – Not Implemented
This recommendation was made in a prior report to IRS. The statement was made in this report to emphasize that actions had not occurred to correct the prior recommendation.
|
| Internal Revenue Service | The Commissioner of IRS should direct the Chief Financial Officer to change the current federal tax deposit coupon reporting requirements to include detailed reporting for all excise taxes, FICA taxes, and employee withheld income taxes. |
Closed – Not Implemented
This recommendation was made in a prior report to IRS. The statement was made in this report to emphasize that actions had not occurred to correct the prior recommendation.
|
| Internal Revenue Service | The Commissioner of IRS should direct the Chief Financial Officer to implement software changes that will allow the detailed taxes reported to be separately maintained in the master file, other related revenue accounting feeder systems, and the general ledger. |
Closed – Not Implemented
This recommendation was made in a prior report to IRS. The statement was made in this report to emphasize that actions had not occurred to correct the prior recommendation.
|
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Topics
Accounting proceduresAccounts receivableAdministrative costsFederal agency accounting systemsFinancial managementFinancial recordsFinancial statement auditsInternal controlsReporting requirementsTax administration