Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Integrity Act: Treasury's Annual Reporting Needs Improvement

  Premium   Download PDF Now (36 pages)
Report Type Reports and Testimonies
Report Date Nov. 26, 1986
Report No. GGD-87-16
Subject
Summary:

GAO reported on the Department of the Treasury's report on its internal controls under the Federal Managers' Financial Integrity Act of 1982 (FMFIA).

GAO believes that Treasury's report inaccurately portrayed the adequacy of its controls, because: (1) its fiscal year (FY) 1985 report stated that, except for material weaknesses in tax processing and automated operations, its internal control systems, as a whole, provided reasonable assurance that internal control objectives were achieved; and (2) the report's lack of specificity and completeness obscured the seriousness of existing weaknesses. GAO disagreed with Treasury's overall reasonable assurance conclusion because of internal control weaknesses in the Internal Revenue Service and the Financial Management Service, and in two departmentwide functions, automatic data processing and personal property management.

« Return to search Government Accountability Office reports