GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
GAO is required by law to annually audit the consolidated financial statements of the U.S. government. The Congress and the President need to have timely, reliable, and useful financial and performance information.
The foundation laid by the Chief Financial Officers Act of 1990 and other management reform legislation provided a much needed statutory basis to improve the accountability of government programs and operations.
Unauthorized disclosure of classified information can cause up to exceptionally grave damage to national security. The Department of Defense (DOD) is responsible for about 2 million personnel with clearances that allow them access to classified information.
On March 3, 2004, the Subcommittee on Government Efficiency and Financial Management, House Committee on Government Reform, heard testimony on the U.S. government's consolidated financial statements for fiscal year 2003.
The Department of Defense (DOD) is on the brink of operations in Iraq while seeking to respond to changes in security threats and still meeting the challenges transforming the military. DOD spends an average of $150 billion annually on acquisitions that support these and other missions.
The Federal Financial Management Improvement Act (FFMIA) of 1996 ensures that agency financial management systems routinely provide reliable and timely financial information on the investment of resources, reduced costs and programs oversight.
Provisions in the National Defense Authorization Act for Fiscal Year 2001 seek to minimize pervasive information security weaknesses that place federal operations at significant risk of disruption, tampering, fraud, and inappropriate disclosure of sensitive information.