Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
GAO cannot give opinion on federal government's finances
Friday - 12/23/2011, 1:36pm EST
Federal News Radio
The Government Accountability Office said it cannot render an opinion on the federal government's 2011 consolidated financial statements due to "widespread material internal control weaknesses, significant uncertainties, and other limitations," according to a GAO release.
Every year, the Treasury secretary, with the director of the Office of Management and Budget, must submit financial statements to the President and Congress. GAO audits these statements.
GAO said the main obstacles to an audit were problems with Defense Department financial statements and the overall government's "ineffective process" for preparing consolidated financial statements.
"The comprehensive fiscal projections presented in the 2011 Financial Report show that - absent policy changes - the federal government continues to face an unsustainable long-term fiscal path," said Gene Dodaro, comptroller general and head of GAO, in a statement.
"While the Budget Control Act of 2011 improved the outlook, it did not fundamentally change the longer-term path over the next few decades. Dealing with the federal government's longer-term fiscal challenges will require sustained attention and difficult decisions," Dodaro said. "These fiscal challenges further highlight the need for the Congress, the administration, and federal managers to have reliable and complete financial and performance information both for individual federal entities and for the federal government as a whole."
Dodaro also cited "material weaknesses" related to $115.3 billion in improper payments across government.