Observations Concerning Profit Rates on Selected Navy Contracts
PLRD-83-27: Published: Apr 12, 1983. Publicly Released: May 12, 1983.
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In response to a congressional request, GAO reviewed allegations concerning possible excess profits under Department of Defense contracts with four corporations to determine whether the profits discussed were normal for similar work and whether there were any special circumstances which accounted for these profits. In addition, GAO obtained other financial information that has been considered relevant in past determinations of excessive profits.
GAO found that the profit figures cited in the allegations were essentially accurate. In each case, the contractors claimed special circumstances which they believed justified their profits, such as unusual quality control requirements, highly trained personnel, or other special features. GAO presented an analysis of the allegation, comparative profit data, and a discussion of the special circumstances involved for each allegation.
Jul 18, 2018
Civil Penalties:
Certain Federal Agencies Need to Improve Inflation Adjustment ReportingGAO-18-519: Published: Jul 18, 2018. Publicly Released: Jul 18, 2018.
Jul 17, 2018
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Government Auditing Standards 2018 Revision (Supersedes GAO-12-331G)GAO-18-568G: Published: Jul 17, 2018. Publicly Released: Jul 17, 2018.
Jul 16, 2018
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Management Report:
Continued Improvements Needed in Controls over the Processes Used to Prepare the U.S. Consolidated Financial StatementsGAO-18-540: Published: Jul 16, 2018. Publicly Released: Jul 16, 2018.
Jun 28, 2018
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Capitol Preservation Fund:
Audit of Fiscal Years 2015, 2016, and 2017 TransactionsGAO-18-524R: Published: Jun 28, 2018. Publicly Released: Jun 28, 2018. -
Senate Preservation Fund:
Audit of Fiscal Years 2015, 2016, and 2017 TransactionsGAO-18-525R: Published: Jun 28, 2018. Publicly Released: Jun 28, 2018.
May 31, 2018
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Improper Payments:
Actions and Guidance Could Help Address Issues and Inconsistencies in Estimation ProcessesGAO-18-377: Published: May 31, 2018. Publicly Released: May 31, 2018.
May 24, 2018
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Congressional Award Foundation:
Review of the Audit of the Financial Statements for Fiscal Year 2017GAO-18-465R: Published: May 24, 2018. Publicly Released: May 24, 2018.
May 10, 2018
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DOD Financial Management:
The Navy Needs to Improve Internal Control over Its BuildingsGAO-18-289: Published: May 10, 2018. Publicly Released: May 10, 2018.
Apr 17, 2018
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Management Report:
Improvements Needed in the Bureau of the Fiscal Service's Information System ControlsGAO-18-332R: Published: Apr 17, 2018. Publicly Released: Apr 17, 2018.
Apr 5, 2018
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Management Report:
Areas for Improvement in the Federal Reserve Banks' Information System ControlsGAO-18-334R: Published: Apr 5, 2018. Publicly Released: Apr 5, 2018.
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