IRS Financial Management: Has There Been Any Improvement? : Hearing Before the Subcommittee on Government Management, Information, and Technology of the Committee on Government Reform and Oversight, House of Representatives, One Hundred Fourth Congress, Second Session, September 19, 1996U.S. Government Printing Office, 1997 - 77 pages Distributed to some depository libraries in microfiche. |
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Page 17
... prepare reliable financial statements , as required by the expanded Chief Financial Officers ( CFO ) Act of 1990 , and to make fundamental financial management improvements . Our recent reports and testimonies , including our March 1996 ...
... prepare reliable financial statements , as required by the expanded Chief Financial Officers ( CFO ) Act of 1990 , and to make fundamental financial management improvements . Our recent reports and testimonies , including our March 1996 ...
Page 29
... prepare , and subject to audit , financial statements covering all accounts and associated activities of each office , bureau , and activity of the agency . This requirement begins with agencies ' financial statement for fiscal year ...
... prepare , and subject to audit , financial statements covering all accounts and associated activities of each office , bureau , and activity of the agency . This requirement begins with agencies ' financial statement for fiscal year ...
Page 49
... prepare financial statements or to have finan- cial audits . When the GAO began auditing our financial statements in 1992 , we were not working with systems designed to provide data in accordance with the CFO Act . Our revenue and ...
... prepare financial statements or to have finan- cial audits . When the GAO began auditing our financial statements in 1992 , we were not working with systems designed to provide data in accordance with the CFO Act . Our revenue and ...
Page 50
... prepare our financial statements and to provide an audit trail . This same process will be used in preparing our fis- cal year 1996 financial statements . We are also discussing a short- term solution that would use the standard general ...
... prepare our financial statements and to provide an audit trail . This same process will be used in preparing our fis- cal year 1996 financial statements . We are also discussing a short- term solution that would use the standard general ...
Page 54
... prepare financial statements or to have financial audits . When the GAO began auditing our financial statements in 1992 , we were not working with systems designed to provide data in accordance with the CFO Act . Our revenue and ...
... prepare financial statements or to have financial audits . When the GAO began auditing our financial statements in 1992 , we were not working with systems designed to provide data in accordance with the CFO Act . Our revenue and ...
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Expressions et termes fréquents
1995 financial statements Accounting Office administrative system amounts reported auditors balances believe billion bureaus cash CFO Act Chairman Chief Financial Officer cial clean audit opinion clean opinion compliance assessments correct Dave Barry Department Deputy detailed transactions develop documentation DODARO EFTPS ensure Erik Anderson excise taxes federal accounting standards financial audit financial information financial management problems financial management systems financial receivables financial reporting financial statement audit fiscal year 1995 Gene L going hearing HOLLOWAY HORN identify implemented improve Internal Revenue Service IRS financial statements IRS reported issues JOE SCARBOROUGH MALONEY master file meet ment MICHAEL PATRICK FLANAGAN operations oversight payments payroll PETER BLUTE progress RANDY TATE receipt and acceptance reconciled reliability requirements resolve revenue system Social Security standard general ledger Stephen Horn Subcommittee Tax Systems Modernization taxes collected taxpayers track Treasury's trillion trying type of tax unqualified opinions verified
Fréquemment cités
Page 26 - This is critical to (1) aid in identifying better interim solutions for reporting revenues and refunds and (2) provide better insights on the longer term system fixes needed to enable IRS to readily and reliably provide the underlying support for its reported revenue and refund amounts.
Page 1 - ... $122 billion for fiscal year 1995) cannot be verified or reconciled to accounting records maintained for individual taxpayers in the aggregate.
Page 61 - The amounts of total revenue and tax refunds cannot be verified or reconciled to accounting records maintained for individual taxpayers.
Page 1 - IRS's financial statements for any of the four fiscal years from 1992 through 1995. The...
Page 52 - We are also working on short-term solutions and long-term redesigns that will modernize our revenue accounting system and ensure that it provides information that is needed for the financial statement audit.
Page 23 - Issues With Revenue IRS' financial statement amounts for revenue, in total and by type of tax, were not derived from its revenue general ledger accounting system (RACS) or its master files of detailed individual taxpayer records. This is because RACS did 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 to support the amounts identified in RACS. As a result, IRS relied on alternative...
Page 24 - 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, IRS did not know and we could not determine if the reported amounts were correct. These discrepancies also further reduce our confidence in the accuracy of the amount of total revenues collected.
Page 18 - ... successfully implemented a financial management system for its appropriated funds to account for its day-to-day operations, which should help IRS to correct some of its past transaction processing problems that diminished the accuracy and reliability of its cost information; and successfully transferred its payroll processing to the Department of Agriculture's National Finance Center and, as a result, properly accounted for and reported its $5.1 billion of payroll expenses for fiscal year 1994.
Page 55 - ... has two separate financial processes to track funds: the administrative system that handles our appropriated funds and our revenue system that tracks tax collections.
Page 24 - ... the discrepancy remains uncertain. In addition to the difference in total revenues collected, we also found large discrepancies between information in IRS' master files and the Treasury data used for the various types of taxes reported in IRS