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AIMD-00-162R 1 (2000-06-14)

handle is hein.gao/gaobacntc0001 and id is 1 raw text is: I GAO Accountability * Integrity * Reliability United States General Accounting Office Accounting and Information Washington, DC 20548 Management Division B-285297 June 14, 2000 The Honorable Charles 0. Rossotti Commissioner of Internal Revenue Subject: Management Letter: Suggested Improvements in IRS' Accounting Procedures and Internal Controls Dear Mr. Rossotti: In February 2000, we issued our report on the results of our audit of the Internal Revenue Service's (IRS) financial statements and on the effectiveness of its internal controls for the fiscal year ending September 30, 1999.1 We also reported our conclusions on IRS' compliance with significant provisions of selected laws and regulations and on whether IRS' systems substantially comply with requirements of the Federal Financial Management Improvement Act of 1996. The purpose of this letter is to report additional matters identified during our fiscal year 1999 audit regarding accounting procedures and internal controls that could be improved. These matters are not considered material in relation to the financial statements; however, they warrant management's consideration. These additional internal control matters concern policies and procedures over (1) property and equipment purchased through Treasury's working capital fund (WCF), (2) reimbursable receivable transactions, (3) supervisory reviews at IRS' National Office, and (4) IRS' Federal Managers' Financial Integrity Act of 1982 (FMFIA) process. At the end of our discussion on each of these matters, we offer suggestions for improving IRS' internal controls. We conducted our audit in accordance with generally accepted government auditing standards and Office of Management and Budget (OMB) Bulletin 98-08. In its response to a draft of this letter, IRS agreed with the issues regarding recording reimbursable transactions and review procedures at the IRS national office. However, IRS disagreed in whole or in part with our conclusions regarding Treasury's WCF and IRS' FMFIA process. At the end of our discussion of each of the issues in this letter, we have summarized IRS' related comments and provided our evaluation. The complete text of IRS' response is included in enclosure I to this letter. 1See Financial Audit: IRS' Fiscal Year 1999 Financial Statements (GAO/AIMID-00-76, February 29, 2000). GAO/AIMD-00-162R IRS Management Letter

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