Fiscal Year 2003 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Future Fiscal Challenges

GAO-04-886T Fiscal Year 2003 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Future Fiscal Challenges

GAO-04-477T Fiscal Year 2003 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Future Fiscal Challenges

The Congress and the Pres. need to have reliable, useful and timely financial and performance info. to make sound decisions on the current and future direction of fed. gov¿t. programs and policies. Auditing agencies have been unable to provide assurance on the reliability of the consolidated financial statements of the U.S. gov¿t. due to certain material weaknesses in the fed. gov¿ts. internal control. Unless these weaknesses are addressed, they will: (1) hamper the fed. gov¿ts. ability to reliably report a significant portion of its assets, liabilities, costs, and other related info.; and (2) affect the fed. gov¿ts. ability to reliably measure the full cost as well as the financial and non-financial performance of certain programs and activities. Charts.

GAO-05-284T Fiscal Year 2004 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Future Fiscal Challenges