Internal Controls: FMS' Monitoring of Lockbox Bank Operations Needs Improvement

摘要

We recently reported on the U.S. governments financial statements for fiscal year211u001e1998. In connection with fulfilling our requirement to audit these statements, we 211u001eperformed audit procedures to evaluate the internal controls over cash receipts 211u001eprocessed by the Department of the Treasury's Financial Management Service (FMS) 211u001eon behalf of the federal government. Our audit included testing the effectiveness 211u001eof FMS internal controls over lockbox collections. The purpose of this report is 211u001eto provide the results of our work in this area and our recommendations for 211u001eimprovement.