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.
Offshore tax evasion is difficult for the Internal Revenue Service (IRS) to address. IRS examines tax returns to deal with offshore evasion that has occurred. IRS's Qualified Intermediary (QI) program seeks to foster improved tax withholding and reporting. GAO was asked to testify on two topics.
The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and the Congress.
Recent legislative and regulatory changes have addressed the relationship between auditor-provided tax services and auditor independence. At this time, the federal regulatory community is exploring further changes.
Since the passage of the Credit Union Membership Access Act of 1998 (CUMAA), many in the credit union industry have sought legislative changes to the net worth ratio central to prompt corrective action (PCA).
This report provides information on (1) the efficacy and adequacy of remedies provided by the Gramm-Leach-Bliley Act of 1999 in addressing attempts to obtain financial information by false pretenses and (2) suggestions for additional legislation or regulatory action to address threats to the privacy...
This report discusses possible money laundering by U.S. corporations formed by Russian entities. It is easy for foreign entities to hide their identities while forming shell corporations that can be used for money laundering.
Pursuant to a congressional request, GAO reviewed software change controls at the Department of the Treasury, focusing on: (1) whether key controls as described in agency policies and procedures regarding software change authorization, testing, and approval complied with federal guidance; and (2) the...