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Increased Error Rate.pdf

676377.pdf

🔗 Source: gao.gov

📊 Size: 896 KB

👤 Author: U.S. Government Accountability Office, http://www.gao.gov

⬇️ Downloads: 178

Summary

The US Government Accountability Office (GAO) found that despite progress in improving federal financial management, material weaknesses in internal control and other limitations prevented it from expressing an opinion on the government's accrual-based financial statements for fiscal year 2015. Three major impediments were identified: (1) financial management problems at the Department of Defense, (2) inability to account for and reconcile intragovernmental activity and balances, and (3) ineffective process for preparing consolidated financial statements. These weaknesses hinder the government's ability to reliably report its financial information and make informed decisions. The GAO also found that the government faces an unsustainable long-term fiscal path, with significant uncertainties related to Medicare cost growth and a material weakness in internal control over financial reporting. Other challenges include improper payments totaling over $1 trillion since 2003 and a net tax gap of $385 billion.

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Description

The US Government Accountability Office (GAO) found that despite progress in improving federal financial management, material weaknesses in internal control...

Technical Information

File Format: PDF
File Size: 896 KB
Pages: 45
Language: EN
Author: U.S. Government Accountability Office, http://www.gao.gov
Total Downloads: 178
Last Updated: 20 hours ago

Document Overview

This PDF document about increased error rate provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into increased error rate.