Federal Internal Control and Financial Management Systems Remain Weak and Obsolete
T-AFMD-90-9: Published: Nov 29, 1989. Publicly Released: Nov 29, 1989.
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GAO discussed the condition of internal control and financial management systems in the federal government. GAO found that: (1) all of the major agencies know their major problems and vulnerabilities, but either have not taken any corrective actions or have taken ineffective actions; (2) agency self-evaluations and annual reports help strengthen internal controls and financial management systems but, based on those reports, the government does not have the internal control and accounting systems necessary to effectively operate many of its assets, and long-standing weaknesses have resulted in billions of dollars in losses and wasteful spending; (3) Congress and the Office of Management and Budget need to intensify their oversight of agencies, and agencies need to strengthen their programs and increase their annual reports' usefulness; (4) the government needs to establish a chief financial officer structure with counterpart chief financial officers in each of the major agencies and require annual preparation and audit of all agency financial statements; (5) upgrading outdated financial management systems and long-range planning would help accounting system standardization and increase use of shared services among agencies; (6) expanded coordination and sharing could minimize the government's operating costs and increase information comparability; (7) forcing agencies to prepare accurate financial statements would help get their financial management systems in order; and (8) the legislative and executive branches must work together to achieve effective and economical programs and sound financial management systems.
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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