United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2003-04-29 monographic deposited born digital 20 p. GA 1.13:GAO-03-676T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-676T P0b002ee180397817 f:d03676t DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-03-676T machine generated eng fdlp REPORT GAOREPORTS-GAO-03-676T GAO-03-676T Accounting Auditors Budget activities Budgeting Financial management Financial statement audits Testimony A06753 Recently, the Small Business Administration's (SBA) auditors withdrew their unqualified audit opinions on SBA's fiscal year 2000 and 2001 financial statements and issued disclaimers of opinion. The auditors also issued a disclaimer of opinion on SBA's fiscal year 2002 financial statements. This turn of events was primarily due to flaws in the way SBA accounted for its loan sales and for the remaining portfolio. There were also several other issues affecting SBA's fiscal year 2002 audit, including key internal control weaknesses and systems that did not substantially comply with the Federal Financial Management Improvement Act. The information GAO presents in this testimony, which is discussed in greater detail in our January 2003 report, Small Business Administration: Accounting Anomalies and Limited Operational Data Make Results of Loan Sales Uncertain (GAO-03-87), is intended to assist Congress in assessing the current status of financial accountability at SBA. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-03-676T/html/GAOREPORTS-GAO-03-676T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-03-676T/pdf/GAOREPORTS-GAO-03-676T.pdf GAO-03-676T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-676T Testimony GAO-03-676T; Small Business Administration: Loan Accounting and Other Financial Management Issues Impair Accountability; Accounting Auditors Budget activities Budgeting Financial management Financial statement audits