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Financial Management: Territorial Audits

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Report Type Reports and Testimonies
Report Date June 27, 1994
Report No. AIMD-94-151R
Subject
Summary:

GAO requested changes in the Department of the Interior and related agencies fiscal year 1995 appropriations bill to eliminate duplication of audit activities. GAO noted that: (1) the Single Audit Act already requires independent audits of the financial transactions of the U.S. territories and Pacific Island governments that receive large federal grants, which are then reviewed by the Interior Office of Inspector General (OIG); (2) the governments hire certified public accounting firms to perform the audits and submit them to OIG; (3) OIG can sanction the governments if they fail to submit the audits; and (4) OIG includes audit information in its semiannual reports to the Secretary of the Interior and Congress.

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