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  • Organization
  • Testimony before the Subcommittee on Government Management, Organization, and Procurement, Committee on Oversight and Government Reform, House of Representatives: United States Government Accountability Office: GAO: For Release on Delivery: Expected at 10:00 a.m. (gao.gov)
  • Oversight
  • 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. (gao.gov)
  • Statements
  • Why GAO Did This Study: GAO annually audits the consolidated financial statements of the U.S. government (CFS). (gao.gov)
  • Three major impediments continued to prevent GAO from rendering an opinion on the federal government's consolidated financial statements other than the SOSI: (1) serious financial management problems at the Department of Defense, (2) federal entities inability to adequately account for and reconcile intragovernmental activity and balances, and (3) an ineffective process for preparing the consolidated financial statements. (gao.gov)
  • performance
  • and (2) affect the federal government s ability to reliably measure the full cost as well as the financial and nonfinancial performance of certain programs and activities. (gao.gov)
  • cost
  • The ultimate cost of these actions and their impact on the federal government s financial condition will not be known for some time in part because the valuation of these assets and liabilities is based on assumptions and estimates that are inherently uncertain. (gao.gov)