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, 1996United States, United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on Government Management, Information, and Technology U.S. Government Printing Office, 1997 - 77 pages Distributed to some depository libraries in microfiche. |
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When an auditor is doing an audit and notices differences of this magnitude
never being reconciled , it is often an indication that there may be fraud going on .
The IRS assures us that this is not the case . But how they can be sure that there
is ...
When an auditor is doing an audit and notices differences of this magnitude
never being reconciled , it is often an indication that there may be fraud going on .
The IRS assures us that this is not the case . But how they can be sure that there
is ...
Page 7
When an auditor is doing an audit and notices differences of this magnitude
never being reconciled , it is often an indication that there may be fraud going on .
The IRS assures us that that is not the case , but how can they be sure that there
is ...
When an auditor is doing an audit and notices differences of this magnitude
never being reconciled , it is often an indication that there may be fraud going on .
The IRS assures us that that is not the case , but how can they be sure that there
is ...
Page 11
So we are going to recess this committee . Now that you are sworn in , you can
tell the truth to each other and we will recess for about 15 minutes and
reassemble here , by the time we get over and vote , at roughly 5 minutes of 11 . [
Recess . ] ...
So we are going to recess this committee . Now that you are sworn in , you can
tell the truth to each other and we will recess for about 15 minutes and
reassemble here , by the time we get over and vote , at roughly 5 minutes of 11 . [
Recess . ] ...
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Now , we have worked with the IRS and they have developed some short - term
fixes in this revenue accounting area , but the longer term fixes are going to be
dependent upon their ability to put in place new and enhanced accounting and ...
Now , we have worked with the IRS and they have developed some short - term
fixes in this revenue accounting area , but the longer term fixes are going to be
dependent upon their ability to put in place new and enhanced accounting and ...
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... Management, Information, and Technology. Internal Revenue Service : Critical
Need to continue _ Improving Core Business Practices ( GAO / T - AIMD / GGD -
96 - 188 , September 10 , 1996 ) ( 901722 ) Mr . HORN . We are going to follow ...
... Management, Information, and Technology. Internal Revenue Service : Critical
Need to continue _ Improving Core Business Practices ( GAO / T - AIMD / GGD -
96 - 188 , September 10 , 1996 ) ( 901722 ) Mr . HORN . We are going to follow ...
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ability acceptance accounting system accounts receivable actions addition administrative agencies amounts appropriations asked assessments auditors balances basis believe billion bureaus cash CFO Act Chairman Chief Financial Officer clean closely collected complete continue controls corporate correct Department deposit designed detailed determine develop differences documentation DODARO effective effort ensure example Federal financial audit financial management financial management systems financial statements fiscal fiscal year 1995 funds give going Government hearing HORN identify implemented important improve issues ledger look master file mean meet ment MUSICK operations opinion payments prepare problems progress question recommendations reconciled records reliability reported requirements resolve responsibility revenue accounting Service significant Social Security standards Subcommittee sure talk taxpayers thank things track transactions Treasury trying verified
Fréquemment cités
Page 52 - Mr. Chairman and Distinguished Members of the Subcommittee: Good morning. I am pleased to be here today to discuss...
Page 6 - First, the amounts of total revenue (reported to be $1.4 trillion for fiscal year 1995) and tax refunds (reported to be $122 billion for fiscal year 1995) cannot be verified or reconciled to accounting records maintained for individual taxpayers in the aggregate.
Page 49 - It does not mean that the money the IRS is supposed to be collecting or spending has simply disappeared - or somehow been misappropriated. This has not occurred. The Service has two separate financial processes to track funds: the administrative system that handles our appropriated funds and our revenue system that tracks tax collections. It is important to understand these two different systems in...
Page 66 - Mr. Chairman, that concludes my remarks. I would be happy to answer any questions.
Page 3 - Dodaro, Assistant Comptroller General, Accounting and Information Management Division, General Accounting Office, Steven O. App, Deputy Chief Financial Officer, Department of the Treasury, and Anthony Musick, Chief Financial Officer of the Internal Revenue Service. We thank you all for joining us; we look forward to your testimony. [The prepared statement of Hon. Stephen Horn follows:] Opening Statement Stephen Horn "Internal Revenue Services Financial Management: Has There Been Any Improvement?
Page 2 - IRS statements and look at the underlying records, their testing and recalculations of amounts result in totals that are not the same as the totals that the IRS is claiming as correct. Auditors refer to this as being unable to give an opinion on the financial statements. Auditors have been unable to express an opinion on the reliability of the IRS financial statements for any of the four fiscal years from 1992 through 1995. The...
Page 24 - 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 25 - 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 25 - IRS1 master files; $433 billion in social security insurance taxes collected— this amount 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
Page 20 - ... could not determine the cause of the cash differences. These differences suggest that IRS did not have proper controls over cash disbursements as well as cash receipts. In addition to its reconciliation problems, we found numerous unsubstantiated amounts. These unsubstantiated amounts occurred because IRS did not have support for when and if certain goods or services were received and, in other instances, IRS had no support at all for the reported expense amount. These unsubstantiated amounts...
Informations bibliographiques
| Titre | 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, 1996 |
| Auteurs | United States, United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on Government Management, Information, and Technology |
| Collaborateur | U. S. Congress, House Committee on Government Reform and Oversight, Subcommittee on Government Management, Information, and Technology Staff |
| Éditeur | U.S. Government Printing Office, 1997 |
| ISBN | 0160558603, 9780160558603 |
| Longueur | 77 pages |
| Exporter la citation | BiBTeX EndNote RefMan |