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Financial Audit: IRS's Fiscal Years 2010 and 2009 Financial Statements

GAO-11-142 Published: Nov 10, 2010. Publicly Released: Nov 10, 2010.
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Highlights

Because of the significance of Internal Revenue Service (IRS) collections to overall federal receipts and, in turn, to the consolidated financial statements of the U.S. government, which GAO is required to audit, and Congress's interest in financial management at IRS, GAO audits IRS's financial statements annually to determine whether (1) the financial statements are fairly stated, and (2) IRS management maintained effective internal control over financial reporting. GAO also tests IRS's compliance with selected provisions of significant laws and regulations and its financial systems' compliance with the Federal Financial Management Improvement Act of 1996 (FFMIA).

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Auditing proceduresAuditsFinancial managementFinancial management systemsFinancial recordsFinancial statement auditsInformation managementInformation resources managementInformation security managementInternal controlsReporting requirementsSystems managementTax administrationTax information confidentialityTaxpayersComplianceFinancial reporting