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Fiscal Year 2011 U.S. Government Financial Statements: The Fed. Government Faces Continuing Financial Management and Long-Term Fiscal Challenges: Congressional Testimony
Gene L. Dodaro (au)
There is an annual audit of the consolidated financial statements of the U.S. government. The Congress and the President need reliable, useful, and timely financial and performance information to make sound decisions and conduct effective oversight of federal government programs and policies. However, over the years, certain material weaknesses in internal control over financial reporting have prevented the auditor from expressing an opinion on the accrual-based consolidated financial statements. These weaknesses need to be adequately addressed. This testimony presents the results of the audit for FY 2011 and discusses certain of the federal governmentäó»s significant long-term fiscal challenges. Table. This is a print on demand report.
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