H.R. 4685, the Accountability of Tax Dollars Act of 2002: hearing before the Subcommittee on Government Efficiency, Financial Management and Intergovernmental Relations of the Committee on Government Reform, House of Representatives, One Hundred Seventh Congress, second session on H.R. 4685 to amend Title 31, United States Code, to expand the types of federal agencies that are required to prepare audited statements, May 14, 2002U.S. Government Printing Office, 2003 - 167 pages |
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$25 million 12 agencies 12 surveyed 2000 budget authority 2000 financial 2002 President's Budget 26 agencies 26 surveyed agencies Accountability of Tax Achieved or Anticipated annual financial statements appropriations audited financial statements Audits Agency Benefits Achieved bill budget authority data CFO Act Chairman Chief Financial Officers considered in determining depreciation determining whether agencies Enclosure GAO Accountability Engel enhancing accountability Federal agencies Federal Communications Commission Federal Election Commission Federal Trade Commission fiduciary responsibilities financial audits financial management personnel financial management systems financial statements audited fiscal year 2000 FS Audits funds GAO Accountability Integrity HORN Improve internal control KANJORSKI liabilities NLRB Number of Agencies Office of Inspector outweigh the costs percent prepare audited financial prepare financial statements Reliability SCHAKOWSKY Selective Service System Service significant benefits staff Subcommittee on Government Survey Responses Tax Dollars Act Toomey Trade Commission Treasury United States Code Yes Yes GAGAS
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Page 134 - A material weakness is a condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of...
Page 134 - Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of internal control that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the financial statements.
Page 134 - ... in amounts that would be material in relation to the financial statements being audited may occur and not be detected with a timely period by employees in the normal course of performing their assigned functions.
Page 126 - FFMIA, agencies must implement and maintain financial management systems that comply substantially with Federal financial management systems requirements, applicable Federal accounting standards, and the...
Page 134 - Under FFMIA, we are required to report whether the agency's financial management systems substantially comply with the Federal financial management systems requirements, applicable Federal accounting standards, and the United States Government Standard General Ledger at the transaction level. To meet this requirement, we performed tests of compliance with FFMIA section 803(a) requirements.
Page 120 - The Honorable Stephen Horn Chairman, Subcommittee on Government Efficiency, Financial Management and Intergovernmental Relations Committee on Government Reform House of Representatives Dear Mr. Chairman: On October 10, 2001, we testified before your subcommittee on agencies' implementation of the Debt Collection Improvement Act (DCIA) of 1996.
Page 9 - I am a believer in what we call the administrative process as it is developed in the Interstate Commerce Commission, the Federal Trade Commission, the Securities and Exchange Commission, and the National Labor Relations Board, and other agencies.
Page 58 - FFMIA builds on the CFO Act by emphasizing the need for agencies to have systems that can generate timely, accurate, and useful information with which to make informed decisions and to ensure accountability on an ongoing basis. FFMIA requires the 24...