|
|
12 Nov 2007
The Government Accountability Office (GAO) continues to express criticism of the Internal Revenue Service (IRS), noting it has had to put processes in place to make up for its ‘serious internal control and financial management systems deficiencies’.
The ‘IRS continues to lack accurate, useful and timely financial information and sound controls with which to make informed decisions day-to-day to ensure ongoing accountability,’ states the GAO annual IRS audit opinion, released last Friday.
Because of IRS's multiple information-systems problems, the GAO is concerned about its future ability to determine whether IRS's financial statements are fairly stated, CFO.com reports.
Although GAO did praise IRS for making ‘significant’ improvement, it noted repeatedly IRS's progress would continue to be hampered by the legacy of its financial-management systems.
Further reading:
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment