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Tag Archives: Treasury
All About Agency Financial Statement Auditing
Every year, GAO audits selected agencies’ financial statements and the consolidated financial statements of the federal government. We’ve discussed the results of our federal government audit on the WatchBlog before, but we wanted to provide more context on the agency-level … Continue reading
The National Flood Insurance Program: a High-Risk Business
The National Flood Insurance Program (NFIP) is a key component of the federal government’s efforts to limit the damage and financial impact of floods. However, it likely will not generate sufficient revenues to repay the billions of dollars borrowed from … Continue reading
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May 22, 2014
Tagged debt, Federal Emergency Management Agency, FEMA, financial solvency, flood, flood insurance, FMCI, GAO, government accountability office, high risk, homeland security, Hurricane Katrina, Hurricane Rita, loan, National Flood Insurance Program, NFIP, Treasury, Treasury Department, usgao
Impediments to an Audit Opinion on the Government’s Financial Statements
The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, annually consolidates individual agency financial statements to provide a comprehensive overview of the federal government’s finances. GAO is required to audit the consolidated … Continue reading
