Download or read book Financial Audit U S Government s Fiscal Years 2012 and 2011 Consolidated Financial Statements written by United States Government Accountability Office and published by . This book was released on 2013-01-18 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government's fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information-both for individual federal entities and for the federal government as a whole. Even though significant progress has been made since the enactment of key federal financial management reforms in the 1990s, GAO's report on the U.S. government's consolidated financial statements illustrates that much work remains to improve federal financial management. Further improvements are urgently needed. GAO found the following: *Certain material weaknesses in internal control over financial reporting and other limitations on the scope of its work resulted in conditions that prevented GAO from expressing an opinion on the fiscal years 2012 and 2011 accrual-based consolidated financial statements. About 34 percent of the federal government's reported total assets as of September 30, 2012, and approximately 21 percent of the federal government's reported net cost for fiscal year 2012 relate to the Department of Defense (DOD), which received a disclaimer of opinion on its consolidated financial statements. *Because of significant uncertainties, primarily related to the achievement of projected reductions in Medicare cost growth reflected in the 2012, 2011, and 2010 Statements of Social Insurance, GAO was unable to express opinions on the 2012, 2011, and 2010 Statements of Social Insurance, as well as on the 2012 and 2011 Statements of Changes in Social Insurance Amounts. About $27.2 trillion, or 70.5 percent, of the reported total present value of future expenditures in excess of future revenue presented in the 2012 Statement of Social Insurance relates to Medicare programs reported in the Department of Health and Human Services' 2012 Statement of Social Insurance, which received a disclaimer of opinion. *Material weaknesses resulted in ineffective internal control over financial reporting for fiscal year 2012. *GAO's tests of compliance with selected provisions of laws and regulations for fiscal year 2012 were limited by the material weaknesses and other scope limitations discussed in the report. While significant progress has been made in improving federal financial management since the federal government began preparing consolidated financial statements 16 years ago, three major impediments continued to prevent GAO from rendering an opinion on the federal government's accrual-based consolidated financial statements over this period: (1) serious financial management problems at DOD that have prevented its financial statements from being auditable, (2) the federal government's inability to adequately account for and reconcile intragovernmental activity and balances between federal agencies, and (3) the federal government's ineffective process for preparing the consolidated financial statements. In addition to the material weaknesses underlying these major impediments, GAO identified four other material weaknesses. These are the federal government's inability to (1) determine the full extent to which improper payments occur and reasonably assure that appropriate actions are taken to reduce improper payments, (2) identify and resolve information security control deficiencies and manage information security risks on an ongoing basis, (3) effectively manage its tax collection activities, and (4) effectively monitor and report loans receivable and loan guarantee liabilities.
Download or read book Financial Audit U S Government s Fiscal Years 2012 and 2011 Consolidated Financial Statements written by United States Government Accountability Office GAO and published by CreateSpace. This book was released on 2013-02-16 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report transmits GAO's report on the results of our audit of the U.S. government's fiscal years 2012 and 2011 consolidated financial statements, which is incorporated in the enclosed 2012 Financial Report of the United States Government prepared by the U.S. Department of the Treasury.During fiscal year 2012, the federal government continued to face economic and fiscal challenges in a slow-growth economy with high unemployment. To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government's fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information—both for individual federal entities and for the federal government as a whole. Even though significant progress has been made since the enactment of key federal financial management reforms in the 1990s, our report on the U.S. government's consolidated financial statements illustrates that much work remains to improve federal financial management. Further improvements are urgently needed.
Download or read book Financial Audit written by Gene L. Dodaro and published by . This book was released on 2013-02-18 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Report of the U S Government for Fiscal Year 2003 written by United States. Congress. House. Committee on Government Reform. Subcommittee on Government Efficiency and Financial Management and published by . This book was released on 2004 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Audit written by United States. Government Accountability Office and published by . This book was released on 2004 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Look at the Fiscal Year 2010 Consolidated Financial Report of the U S Government written by United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Government Organization, Efficiency, and Financial Management and published by . This book was released on 2011 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Audit written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-12-15 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Audit: U.S. Government's Fiscal Years 2013 and 2012 Consolidated Financial Statements
Download or read book Financial Audit written by Gene L. Dodaro and published by . This book was released on 2014-04-05 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report transmits GAO's report on the results of their audit of the U.S. government's FY 2013 and 2012 consolidated financial statements, which is incorporated in the enclosed 2013 Financial Report of the U.S. Government prepared by the U.S. Dept. of the Treasury. During FY 2013, the federal government's reported unified budget deficit decreased by about $409 billion to approx. $680 billion. However, the federal government continues to face an unsustainable long-term fiscal path. To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government's fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable and complete financial and performance information -- both for individual federal entities and for the federal government as a whole. Overall, significant progress has been made since the enactment of key federal financial management reforms in the 1990s; however, this report underscores that much work remains to improve federal financial management, and these improvements are urgently needed. Figures. This is a print on demand report.
Download or read book Financial audit Consolidated financial statements of the United States government report to the Congress written by and published by DIANE Publishing. This book was released on with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The consolidated financial statements of the federal government for fiscal year 2002 written by United States. Congress. House. Committee on Government Reform. Subcommittee on Government Efficiency and Financial Management and published by . This book was released on 2003 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consolidated Financial Statements of the United States Government written by and published by . This book was released on 1997 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The federal government s consolidated financial statements written by United States. Congress. House. Committee on Government Reform. Subcommittee on Government Efficiency, Financial Management, and Intergovernmental Relations and published by . This book was released on 2003 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial and Performance Management written by Government Accountability Government Accountability Office and published by CreateSpace. This book was released on 2014-12-31 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This testimony is based on several reports issued in 2013. In January 2013, we issued our report on the results of our audit of the U.S. government's fiscal years 2012 and 2011 consolidated financial statements, which along with the financial statements, are contained in the fiscal year 2012 Financial Report of the United States Government (Financial Report).
Download or read book Financial Report of the United States Government written by and published by . This book was released on with total page 1064 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial audit process for preparing the consolidated financial statements of the U S government needs improvement written by and published by DIANE Publishing. This book was released on with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal year 2003 U S Government financial statements sustained improvement in federal financial management is crucial to addressing our nation s future fiscal challenges written by David Michael Walker and published by DIANE Publishing. This book was released on 2004 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Audit written by James F. Hinchman and published by DIANE Publishing. This book was released on 1999-04 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the first time in the nation's history, the federal government has prepared consolidated financial statements that have been subjected to an independent audit. In accordance with the Chief Financial Officers Act, consolidated financial statements for FY1997 were prepared by the Dept. of the Treasury and audited. This report includes: Management's Discussion and Analysis; Audit Report; Consolidated Financial Statements; Notes to the Financial Statements; Stewardship Reporting; Supplemental Table; and Appendix, a list of significant U.S. Government entities included and entities excluded from the consolidated financial statement.
