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 2006-11-07 monographic deposited born digital 32 p. GA 1.13:GAO-07-127 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-127 P0b002ee1803a523b f:d07127 DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-07-127 machine generated eng fdlp REPORT GAOREPORTS-GAO-07-127 GAO-07-127 Debt held by public Federal debt Financial management systems Financial statement audits Internal controls Public debt Trust funds US Treasury securities Bureau of the Public Debt Schedule of Federal Debt Other Written Product A63064 GAO is required to audit the consolidated financial statements of the U.S. government. Due to the significance of the federal debt held by the public to the governmentwide financial statements, GAO has also been auditing the Bureau of the Public Debt's (BPD) Schedules of Federal Debt annually. The audit of these schedules is done to determine whether, in all material respects, (1) the schedules are reliable and (2) BPD management maintained effective internal control relevant to the Schedule of Federal Debt. Further, we test compliance with selected provisions of significant laws related to the Schedule of Federal Debt. Federal debt managed by BPD consists of Treasury securities held by the public and by certain federal government accounts, referred to as intragovernmental debt holdings. The level of debt held by the public reflects how much of the nation's wealth has been absorbed by the federal government to finance prior federal spending in excess of federal revenues. Intragovernmental debt holdings represent balances of Treasury securities held by federal government accounts, primarily federal trust funds such as Social Security, that typically have an obligation to invest their excess annual receipts over disbursements in federal securities. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-127/html/GAOREPORTS-GAO-07-127.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-127/pdf/GAOREPORTS-GAO-07-127.pdf GAO-07-127 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-127 Other Written Product GAO-07-127; Financial Audit: Bureau of the Public Debt's Fiscal Years 2006 and 2005 Schedules of Federal Debt; Debt held by public Federal debt Financial management systems Financial statement audits Internal controls Public debt Trust funds US Treasury securities Bureau of the Public Debt Schedule of Federal Debt Volume 116 Page 734 116 Stat. 734 Volume 117 Page 710 117 Stat. 710 Volume 118 Page 2337 118 Stat. 2337 Volume 120 Page 289 120 Stat. 289 Public Law 107-199 Public Law 108-24 Public Law 108-415 Public Law 109-182