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D19380 1 (1973-01-01)

handle is hein.gao/gaobadvab0001 and id is 1 raw text is: ,SPEECHES Importance of Internal Auditing Elmer B. Staats, Comptroller Gen- eral, speaking on The New Thrust of Internal Auditing in Government, be. /ore the International Conference of the Institute of Internal Auditors, Washington, D.C., July 3, 1973. The internal audit function is a most important one from the stand- point of the operations of the General Accounting Office. GAO has vigor. ously promoted and supported strong internal audit systems in all Govern- ment agencies for many years. The reason for our concern is two- fold: 1. Internal auditing is an integral part of a good management sys- tem. In recognition of this im- portant concept, GAO has consistently promoted stronger internal audit systems as part of its management improvement ef- forts throughout the Federal Government. 2. The existence of strong manage- ment control systems within gov- ernment agencies which include internal auditing contributes to a more efficient overall audit system. Where such systems ex- ist in the Federal Government, GAO, as an independent audit arm of the Congress, can con- centrate more of its limited re- sources on analyzing serious management and operating problems and identifying oppor- tunities for improvement. The staggering size of government operations today suggests how impor- tant it is that good management sys- tems at all levels of government incorporate effective internal auditing. Federal expenditures for 1974, as pro- posed in the budget submitted by the President, add up to close to $270 billion-a figure of disarming simplic- ity in appearance but with far-reach- ing financial ramifications that affect almost all segments of our social and economic system and the systems of many foreign nations. State and local government expendi- tures are also growing in size. When added to those of the Federal Govern- ment, the total represents over one- third of the gross national product. A key point of concern to legislators who authorize the use of public funds, and to managers and policymakers who are responsible for their use, is that those funds be used effectively for the purposes intended and without waste. This same point must also con-

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