U.S. Consolidated Financial Statements: Improvements Needed in Controls over Treasury Preparation Processes
GAO’s fiscal year 2025 audit found new and continuing control deficiencies in Treasury’s preparation of the consolidated financial statements (CFS), including failures to adequately account for intragovernmental activity and balances, inconsistent or incomplete note disclosures (including legal…
Intelligence Package
U.S. Consolidated Financial Statements: Improvements Needed in Controls over Treasury Preparation Processes
Deep dive into how this impacts each market segment.
GAO’s fiscal year 2025 audit found new and continuing control deficiencies in Treasury’s preparation of the consolidated financial statements (CFS), including failures to adequately account for intragovernmental activity and balances, inconsistent or incomplete note disclosures (including legal…
Read full report →Action KitU.S. Consolidated Financial Statements: Improvements Needed in Controls over Treasury Preparation Processes
Actionable checklists and implementation guidance.
GAO’s fiscal year 2025 audit found control deficiencies in the Department of the Treasury’s processes for preparing the U.S. government’s consolidated financial statements (CFS). The deficiencies contributed to material weaknesses that affect the federal government’s ability to account for…
Read full report →