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FGMSD-80-65 1 (1980-08-28)

handle is hein.gao/gaobabayj0001 and id is 1 raw text is: 



BY THE COMPTROLLER GENERAL



Report To The Congress

OF THE UNITED STATES




Continuing And Widespread Weaknesses

In Internal Controls Result In Losses

Through Fraud, Waste, And Abuse


Billions of Federal dollars are lost annually
through fraud, waste, and abuse. This report
summarizes a series of earlier reports on inter-
nal control weaknesses in 11 Federal agencies.
The activities reviewed represent a cross section
of Government activities--civilian and military,
domestic and overseas.
Repeatedly, GAO found control weaknesses
over virtually all aspects of accounting opera-
tions-accounts receivable, collections, dis-
bursements, obligations, and imprest funds--
that allow monetary losses to occur. The im-
plications are very disturbing: it appears prob-
able that similar problems exist throughout
the Federal Government.

The Office of Management and Budget re-
cently urged the heads of Federal agencies to
give personal attention to internal controls.
GAO believes the Congress should enact legisla-
tion currently under consideration that would
place greater responsibility on Federal agency
heads for the soundness of their organizations'
financial control systems. Such legislation
would be an important step toward reducing
the loss of Federal funds through fraud, waste,
and abuse.



             FGMD.80-6113161




                                                                    FGMSD-80-65


AUGUST 28, 1980

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