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.
Congress granted financial regulators flexibility to establish their own compensation systems and required certain agencies to seek to maintain comparability with each other in pay and benefits to help the agencies overcome impediments to recruiting and retaining employees and avoid competing for the...
On November 15, 2006, we issued our report on the U.S. Securities and Exchange Commission's (SEC) fiscal years 2006 and 2005 financial statements and on SEC's internal control as of September 30, 2006.
Corporate failures and accounting scandals led to changes in legislation governing U.S. securities markets, which resulted in increased workload demands on the Securities and Exchange Commission (SEC).
In May 2005, we issued our report expressing an opinion on the Securities and Exchange Commission's (SEC) fiscal year 2004 financial statements and an opinion on SEC's internal control as of September 30, 2004.
The accounting system's self-regulatory system for auditors, which largely depends on voluntary contributions from the accounting industry, is plagued by fragmentation, lack of coordination, poor communication, and conflicts of interest.