Financial Audit:

Actions Needed to Improve IRS Financial Management

T-AIMD-96-96: Published: Jun 6, 1996. Publicly Released: Jun 6, 1996.

Additional Materials:


Office of Public Affairs
(202) 512-4800

GAO discussed its financial audits of the Internal Revenue Service for fiscal years 1992 through 1995. GAO noted that: (1) IRS relied on alternative sources to obtain revenue totals by type of tax for its financial statements; (2) IRS financial statements include various discrepancies that cannot be explained because of weaknesses in IRS information and collection systems; (3) the validity of IRS accounts receivable and collectible accounts receivable can not be verified; (4) many uncollected compliance assessments and financial receivables are uncollectible; (5) IRS has been unable to accurately account and report its total inventory of accounts receivable; (6) while IRS has made some improvements in accounting and reporting on its operating costs, significant problems remain; (7) IRS can not confirm when and if goods and services were received; and (8) the accuracy of the IRS Fund Balance with Treasury accounts cannot be verified.

Feb 15, 2018

Jan 31, 2018

Nov 16, 2017

Nov 15, 2017

Nov 9, 2017

Looking for more? Browse all our products here