Continuing and Widespread Weaknesses in Internal Controls Result in Losses Through Fraud, Waste, and Abuse
FGMSD-80-65
Published: Aug 28, 1980. Publicly Released: Aug 28, 1980.
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Highlights
Most federal agencies are operating accounting systems that are vulnerable to physical losses and waste of federal money as well as fraudulent and otherwise improper uses. These conditions, noted in a series of GAO reports issued between December 1976 and October 1979 covering financial operations in 11 major federal organizations, are summarized.
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Topics
Cost accounting standards complianceCost controlFederal agenciesFinancial disclosureFinancial managementFraudLossesProgram abusesProgram evaluationProposed legislation