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 2006-03-01 monographic deposited born digital 37 p. GA 1.13:GAO-06-406T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-06-406T P0b002ee18037aaa1 f:d06406t DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-06-406T machine generated eng fdlp REPORT GAOREPORTS-GAO-06-406T GAO-06-406T Accountability Accounting procedures Accounting standards Audit reports Federal agency accounting systems Financial management Financial management systems Financial statement audits Financial statements Internal controls Performance measures Reporting requirements Projections Testimony A48021 GAO is required by law to annually audit the consolidated financial statements of the U.S. government. The Congress and the President need to have timely, reliable, and useful financial and performance information. Sound decisions on the current results and future direction of vital federal government programs and policies are made more difficult without such information. Until the problems discussed in GAO's audit report on the U.S. government's consolidated financial statements are adequately addressed, they will continue to (1) hamper the federal government's ability to reliably report a significant portion of its assets, liabilities, costs, and other information; (2) affect the federal government's ability to reliably measure the full cost as well as the financial and nonfinancial performance of certain programs and activities; (3) impair the federal government's ability to adequately safeguard significant assets and properly record various transactions; and (4) hinder the federal government from having reliable financial information to operate in an economical, efficient, and effective manner. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-06-406T/html/GAOREPORTS-GAO-06-406T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-06-406T/pdf/GAOREPORTS-GAO-06-406T.pdf GAO-06-406T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-06-406T Testimony GAO-06-406T; Fiscal Year 2005 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Financial Condition and Long-term Fiscal Imbalance; Accountability Accounting procedures Accounting standards Audit reports Federal agency accounting systems Financial management Financial management systems Financial statement audits Financial statements Internal controls Performance measures Reporting requirements Projections Volume 116 Page 2350 Volume 116 Page 2899 116 Stat. 2350 116 Stat. 2899 Volume 118 Page 1811 118 Stat. 1811 Public Law 107-347 Public Law 108-375