Continuing and Widespread Weaknesses in Internal Controls Result in Losses Through Fraud, Waste, and Abuse

摘要

In the past several years much publicity has been given to cases where Federal money was lost through fraud, waste, and abuse. The report discusses financial and accounting control weaknesses allowing these conditions to exist and demonstrates that these conditions could exist in most Federal agencies. The report points out that Federal agencies are required to maintain internal control systems that safeguard their financial resources. However, no mechanism now exists to enforce this requirement.