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GAO-13-416R 1 (2013-05-09)

handle is hein.gao/gaobachen0001 and id is 1 raw text is: nG A 0 United States Government Accountability Office Washington, DC 20548 May 9, 2013 The Honorable David A. Lebryk Commissioner Bureau of the Fiscal Service U.S. Department of the Treasury Subject: Bureau of the Public Debt: Areas for Improvement in Information Systems Controls Dear Mr. Lebryk: In connection with fulfilling our requirement to audit the consolidated financial statements of the U.S. government,1 we audited and reported on the Schedules of Federal Debt Managed by the Bureau of the Public Debt (BPD)2 for the fiscal years ended September 30, 2012 and 2011.3 As part of these audits, we performed a review of information systems controls over key BPD financial systems relevant to the Schedule of Federal Debt. As we reported in connection with our audit of the Schedules of Federal Debt for the fiscal years ended September 30, 2012 and 2011, we concluded that BPD maintained, in all material respects, effective internal control over financial reporting relevant to the Schedule of Federal Debt as of September 30, 2012, that provided reasonable assurance that misstatements, losses, or noncompliance material in relation to the Schedule of Federal Debt would be prevented, or detected and corrected, on a timely basis. However, we identified information systems deficiencies affecting internal control over financial reporting which, while we do not consider them individually or collectively to be either material weaknesses or significant deficiencies, nevertheless warrant the attention and action of 131 U.S.C. § 331 (e)(2). Federal debt and related activity and balances managed by BPD during fiscal years 2012 and 2011 were also significant to the consolidated financial statements of the Department of the Treasury (see 31 U.S.C. § 3515(b)). 2According to Department of the Treasury officials, on October 7, 2012, the Secretary of the Treasury (1) established the Bureau of the Fiscal Service as a bureau within the Department of the Treasury, (2) consolidated and redesignated BPD and the Financial Management Service as the Bureau of the Fiscal Service, and (3) transferred the duties of the BPD and Financial Management Service commissioners to the Commissioner of the Bureau of the Fiscal Service. We are addressing the report and new recommendations being made to the Commissioner of the Bureau of the Fiscal Service. Elsewhere in this report, we refer to BPD, which was responsible for managing the Schedules of Federal Debt when we performed our audit work in prior years. 3GAO, Financial Audit. Bureau of the Public Debt's Fiscal Years 2012 and 2011 Schedules of Federal Debt, GAO-1 3-114 (Washington, D.C.: Nov. 8, 2012). GAO-13-416R Information Systems Controls at BPD Page 1

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