The Department of Labor's (DOL) Bureau of International Labor Affairs' (ILAB) child labor office and trade and labor office both have guidance for the financial monitoring of grants, but could improve their financial oversight. For example, we found that project managers completed their acceptance or rejection of about 20 percent of quarterly financial reports more than 90 days after receipt from

In its audit of the Fund, Clifton Gunderson LLP reported that: (1) The financial statements were presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles. (2) There were three significant deficiencies in internal control over financial reporting (including safeguarding assets) as of September 30, 2008. (3) There was no reportable noncompliance i

The Government Accountability Office (GAO) is required by the Government Management Reform Act of 1994 to audit the Consolidated Financial Statements of the U.S. Government (CFS). Certain material weaknesses in financial reporting and other limitations on the scope of our work have continued to result in conditions that have prevented us from expressing an opinion on the federal government's accr

Federal agencies have continued to make progress in meeting the requirements of FFMIA since the passage of the law in 1996. Most agencies though, have not yet progressed to the stage that their systems are substantially compliant, and some agencies have made little progress. Accordingly, agencies continue to fall short in their attempts to establish the financial systems needed to create the full

Our detailed testing of the Commission's fiscal year 2004 financial transactions indicated that most were supported and approved. Nonetheless, we found numerous opportunities for the Commission to improve its internal control over its financial transactions. Specifically, we found that the Commission did not prepare and maintain underlying support in the form of employee-signed time sheets for sa

GAO found that the financial statements presented fairly the financial position of OSA as of December 31, 1992, and June 30, 1992, and the results of its operations and changes in financial position for the 6-month periods then ended, in conformity with generally accepted accounting principles. GAO also found that: (1) the OSA internal control structure was sufficient; and (2) OSA complied with a

GAO found that: (1) the Fund's financial statements were reliable in all material respects and fairly presented, in conformity with generally accepted accounting principles, its assets, liabilities, government equity, results of operations, and cash flows; (2) the Fund incurred operating losses in fiscal year 1992 which were offset by supplemental funding; (3) the internal controls in effect as o

GAO found that the Panama Canal Commission's: (1) financial statements presented fairly, in all material respects, its financial position as of September 30, 1993 and 1992, and the results of its operations, changes in capital, and cash flows for the years then ended, in conformity with generally accepted accounting principles; and (2) internal controls provided reasonable assurance that losses,

GAO found that: (1) the fund's financial statements present fairly, in conformity with generally accepted accounting principles, its assets, liabilities, government equity, results of operations, and cash flows; (2) the fund has incurred operating losses since 1987 and has relied on supplemental Senate funding since 1989; and (3) there was no evidence of material weaknesses in the fund's internal

GAO found that: (1) 17 of the 74 departments and agencies selected reported unvouchered expenditures for FY 1989 through 1991; (2) 10 agencies have had at least one audit of unvouchered expenditures since 1986; (3) the Department of Defense did not issue a department-wide regulation concerning funds used for confidential expenditures; (4) the Army's management of contingency funds was effective;