Integrity Act

Treasury's Annual Reporting Needs Improvement Gao ID: GGD-87-16 November 26, 1986

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.

Recommendations

Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

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