Management Report: Improvements Needed in IRS's Internal Controls
DIANE Publishing, 2009 - 37 pages
In Nov. 2007, a report was issued on the results of an audit of the IRS¿s financial statements for the FY ending, Sept. 30, 2007, and 2006, and on the effectiveness of its internal controls. The report also commented on whether IRS¿s financial mgmt. systems substantially comply with the requirements of the Fed. Financial Mgmt. Improvement Act of 1996. The purpose of this report is to discuss issues identified during the audit of IRS¿s financial statements for the FY ending Sept. 30, 2007, regarding internal controls that could be improved for which they currently do not have a specific recommendation outstanding. This report contains 24 recommendations that are being proposed that IRS implement to improve its internal controls. Charts and tables.
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2007 financial audit 2008 financial statements account modules accuracy penalty affecting penalty assessments appropriate IRS officials assessments estimation process assets audit of IRS’s CDDB computer access rights computer programs affecting contracts control standards require deficiency assessment direct appropriate IRS duress alarms effective date effectiveness of IRS’s employees evaluate the effectiveness Evaluation IRS agreed Federal fiscal year 2007 found that IRS functioning in accordance future audits Government Accountability Office guidance identified increases the risk Internal control standards IRACS IRS Comments IRS facilities IRS lacked IRS policies IRS recorded IRS’s efforts IRS’s fiscal IRS’s unpaid assessments master files performing policies and procedures programs affecting penalty purchase card transactions purchase cardholders receipts and information Recommendation We recommend recorded responsible Revenue sample sensitive IRS information statistical samples supervisory review TAC managers TACs we visited taxpayer accounts taxpayer information taxpayer receipts TE/GE user fee traceable travel card unpaid assessments estimation verify