... • • • The amounts reported for various types of taxes collected (for example, social security, income, and excise taxes) cannot be substantiated The reliability of reported estimates of $113 ... revenue accounting system does not contain detailed information by type of tax, such as individual income tax or corporate tax, and the master file cannot summarize the taxpayer information needed ... was $5 billion less than what was recorded in IRS’ master files; and $148 billion in corporate income taxes—this amount was $6.6 billion more than what was recorded in IRS’ master files Thus,...
... trial version www.adultpdf.com GAO UnitedStates General Accounting Office Washington, D.C 20548 Accounting and Information Management Division B-271580 July 8, 1996 The Honorable John J Hamre The ... and Comptroller Mr Richard F Keevey Director, Defense Finance and Accounting Service On March 27, 1996, we reported1 on the results of our review of the reliability of the Navy’s fiscal year 1994 ... Increased Attention Must Be Given to Preparing Navy’s Financial Reports (GAO/AIMD-96-7, March 27, 1996) This is trial version www.adultpdf.com Page GAO/AIMD-96-65 CFO Act Financial Audits - Navy...
... were found between these records in fiscal years 1991 and 1994 as well Most recently, in March 1996, we recommended that the Navy and DFAS place a high priority on implementing basic required ... financial statements DOD is statutorily required to prepare, beginning with those for fiscal year 1996 Financial Reporting: Navy’s 1986 Consolidated Report on Financial Position Is Unreliable (GAO/AFMD-89-18, ... 10 GAO/AIMD-96-65 CFO Act Financial Audits - Navy B-271580 The recommendations we made in March 1996 were directed at avoiding the mistakes made in preparing the Navy’s fiscal year 1994 consolidated...
... Department of Defense letter dated June 14, 1996 GAO Comment A representative of DFAS, Cleveland, contacted us regarding this figure and, on May 16, 1996, we provided additional information as ... GAO/AIMD-96-65 CFO Act Financial Audits - Navy Appendix III Locations Where Audit Work Was Conducted UnitedStates Naval Academy, Annapolis, Maryland Defense Finance and Accounting Service Activities ... Page at: http://www.gao.gov This is trial version www.adultpdf.com PRINTED ON RECYCLED PAPER UnitedStates General Accounting Office Washington, D.C 20548-0001 Official Business Penalty for Private...
... fundamental financial management improvements Our recent reports and testimonies,1 including our March 1996 testimony before the Subcommittee, detailed the substantial problems IRS has in accounting ... and efforts are underway to address the remaining areas As part of our audit of IRS’ fiscal year 1996 financial statements, we will examine additional actions IRS has taken to complete other recommendations ... solve these problems, with a goal of having these matters resolved in time for the fiscal year 1996 financial statement audit For some areas, especially in accounting for revenue, IRS will need...
... fiscal year 1996 will be available by October 1, 1996 Data for the entire fiscal year will be available by January 15, 1997 To provide an allocation of taxes between social security, income, and ... Allocations for the first three quarters of fiscal year 1996 are due by November 30, 1996 An allocation for the final quarter of fiscal year 1996 is due by January 30, 1997 Also, regarding the issue ... 11, 1996) Reports and Testimonies Related to IRS Financial Audits and TSM Operations: Significant Challenges in Financial Management and Systems Modernization (GAO/T-AIMD-96-56, March 6, 1996) ...
... trial version www.adultpdf.com UnitedStates General Accounting Office Washington, D.C 20548 GAO Accounting and Information Management Division B-258746 March 27, 1996 The Honorable William J Perry ... loss whereas the fiscal year 1993 statements showed operating income of $2.5 billion The fiscal year 1994 statement showed operating income of $574 million These extreme fluctuations in annual ... financial statements DOD is statutorily required to prepare, beginning with those for fiscal year 1996 GAO reviewed the consolidated financial reports for the Navy’s general funds, specifically...
... stated that 13 more personnel were expected to join the center’s CFO team by the end of February 1996 Although the hirings should logically alleviate some of the personnel shortages, a viable financial ... begin readying themselves to prepare reliable financial statements for the Navy for fiscal year 1996 The Navy has not taken advantage of the years since the act’s passage, or the lessons learned ... responsibility to prepare reliable agencywide financial statements beginning with those for fiscal year 1996 We recommend that the DOD Comptroller and the Navy’s Assistant Secretary for Financial Management...
... serious questions regarding Navy’s and DFAS’s commitment and ability to prepare the fiscal year 1996 financial statements, which, for the most part, will be based on the same data sources We state ... officials current plans and strategies for preparing the Navy’s financial statements for fiscal year 1996 We analyzed available documents relating to these plans and focused on whether they adequately...
... the body to: info@www.gao.gov This is trial version www.adultpdf.com PRINTED ON RECYCLED PAPER UnitedStates General Accounting Office Washington, D.C 20548-0001 Official Business Penalty for Private ... Defense The following are GAO’s comments on the Department of Defense letter dated February 9, 1996 GAO Comments We have changed the title of this report to CFO Act Financial Audits: Increased...
... trial version www.adultpdf.com GAO UnitedStates General Accounting Office Washington, D.C 20548 Comptroller General of the UnitedStates B-262039 July 15, 1996 To the President of the Senate ... GAO/AIMD-96-89 FDIC’s 1995 and 1994 Financial Statements UnitedStates General Accounting Office Washington, D.C 20548 GAO Comptroller General of the UnitedStates B-262039 To the Board of Directors Federal ... resulted in a final judgment of $6 million against FDIC, which was paid by FRF On July 1, 1996, the UnitedStates Supreme Court concluded that the government is liable for damages in three other...
... obligations or the interest on these obligations are obligations of the UnitedStates nor are they guaranteed by the UnitedStates The annual FICO interest obligation, on average, equals approximately ... of record earnings The main source of earnings in 1995 was higher net interest income The increase in net interest income was attributable to growth in interest-bearing assets, The information ... Director of the Office of Thrift Supervision, and the Under Secretary for Domestic Finance of the UnitedStates Treasury, urged the Congress to pass comprehensive legislation to provide a solution...
... to our report is included in appendix I Charles A Bowsher Comptroller General of the UnitedStates May 2, 1996 This is trial version www.adultpdf.com Page 24 GAO/AIMD-96-89 FDIC’s 1995 and 1994 ... review, and timing differences We will review FDIC’s new asset valuation process as part of our 1996 financial audits also stated that it reviewed the assets sampled by us in our audits noted ... a new process for estimating asset recoveries FDIC expects this process to be in place for the 1996 annual financial statements FDIC believes that this new process will address concerns regarding...
... FDIC’s 1995 and 1994 Financial Statements FSLIC Resolution Fund’s Financial Statements Statements of Income and Accumulated Deficit This is trial version www.adultpdf.com Page 57 GAO/AIMD-96-89 FDIC’s...