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Financial Management|U. S. Government Accountability Office (

Financial Management : Inadequate Accounting and System Project Controls at Aid: Afmd-93-19

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Overview

GAO reviewed key accounting and reporting weaknesses in the Agency for International Development's (AID) financial management systems, and evaluated AID efforts to improve these systems.
GAO found that: (1) AID has experienced serious accounting system and financial reporting problems; (2) AID overseas offices did not promptly and accurately report disbursements, and AID could not ensure that disbursements against valid, pre-established obligations were valid; (3) at the end of fiscal year 1991, AID property management systems overstated vehicle acquisitions by 44 percent and disposals by 14 percent, reported more than 20,000 items valued at $1.9 million that could not be located, and understated property balances in overseas offices by $19 million; (4) AID did not use automated techniques to exchange information and report financial and quantitative data, which resulted in inaccurate and inefficient information; (5) top management did not effectively support and oversee two major system improvement initiatives; and (6) AID has not established a steering committee to ensure top management involvement or formulated a detailed system development, testing, and implementation plan.

Details

  • ISBN-13: 9781287269724
  • ISBN-10: 1287269729
  • Publisher: Bibliogov
  • Publish Date: July 2013
  • Dimensions: 9.69 x 7.44 x 0.16 inches
  • Shipping Weight: 0.34 pounds
  • Page Count: 76

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