IRS still plagued by ‘serious’ control problems
USA’s Government Accountability Office’s latest audit of the IRS found there are still problems in the tax collector's internal controls
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:
Virtual businesses: taxman gets unreal