Financial Integrity Act of 1981: Hearing Before the Committee on Governmental Affairs, United States Senate, First Session, on S. 864 ... November 13, 1981

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Page 39 - ... to provide a means for keeping the head of the establishment and the Congress fully and currently Informed about problems and deficiencies relating to the administration of luch programs and operations and the necessity for and progress of corrective action: thereby ' Is hereby established In each of such establishments an office of Inspector General.
Page 48 - ... as a means to an end rather than an end in itself; - and to understand the noncontrol functions other staff members perform.
Page 32 - Agency heads are responsible for the establishment and maintenance of a- system or systems of internal control within their agencies.
Page 48 - An evaluation is to be made of the system of internal control to assess the extent it can be relied upon to ensure accurate information, to ensure compliance with laws and regulations, and to provide for efficient and effective operations.
Page 48 - ... check the accuracy and reliability of accounting data, promote operational efficiency and encourage adherence to prescribed management policies; or (2) an opinion from a Certified Public Accountant or a duly licensed public accountant stating that the grantee has established such an accounting system.
Page 48 - A system of authorization and record procedures adequate to provide reasonable accounting control over assets, liabilities, revenues and expenses. 3. Sound practices to be followed in the performance of duties and functions of each of the departments and agencies. 4. A degree of quality of personnel commensurate with responsibilities.
Page 33 - Independent evidence shall be maintained that authorizations are issued by persons acting within the scope of their authority and that transactions conform with the terms of the authorizations.
Page 32 - Internal Control Documentation — written policies, organization charts, procedural write-ups, manuals, memoranda, flow charts, decision tables, completed questionnaires, software, and related written materials used to describe the Internal control methods and measures, to communicate responsibilities and authorities for operating such methods and measures, and to serve as a reference for persons reviewing the internal controls and their functioning.
Page 8 - I would be pleased to respond to any question you or other Members of the Committee may have.
Page 6 - Management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. The concept of reasonable assurance is based on the recognition that the cost of a system of internal accounting control should not exceed the benefits.

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