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