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GAO-25-108150 1 (July 23, 2025)

handle is hein.gao/uscsldficl0001 and id is 1 raw text is: c rAO U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 July 23, 2025 Ms. Jolene Ann Lauria Assistant Attorney General for Administration and Chief Financial Officer U.S. Department of Justice 950 Pennsylvania Avenue, N.W. Washington, D.C. 20530 U.S. Consolidated Financial Statements: Key Issues for the Department of Justice Dear Ms. Lauria: As the Department of Justice's (DOJ) Chief Financial Officer, you have an important role in helping to ensure that reliable and complete federal financial information is available. The purpose of this letter is to highlight important issues for your awareness related to financial management in the federal government. GAO is responsible for conducting the annual audit of the U.S. government's consolidated financial statements, or CFS.1 On January 16, 2025, we issued a disclaimer of opinion on these statements for fiscal years 2024 and 2023.2 The consolidated financial statements are compiled from federal entity financial statements and other federal entity information. As such, federal entities, including DOJ, have a key role in supporting financial reporting at the government-wide level. While DOJ's auditor issued an unmodified audit opinion on DOJ's fiscal years 2024 and 2023 financial statements, DOJ's strong and sustained commitment is critical to addressing the following key issues that affect the U.S. government's consolidated financial statements. Intragovernmental activity and balances: In our fiscal year 2024 audit of the consolidated financial statements, we continued to report that the federal government was unable to adequately account for intragovernmental activity and balances between federal entities. This is one of three major impediments preventing us from rendering an opinion on the consolidated financial statements. Under federal accounting standards, intragovernmental activity and balances between federal entities must be eliminated for the preparation of the consolidated financial statements. While the Department of the Treasury has issued guidance and worked with federal entities to reduce differences in intragovernmental activity and balances in recent years, differences remain. These include differences between DOJ and its trading partners. 1The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, is required to annually submit audited financial statements for the executive branch of the U.S. government to the President and Congress. These statements, as submitted, also include the legislative and judicial branches. 2GAO, Financial Audit: FY 2024 and FY 2023 Consolidated Financial Statements of the U.S. Government, GAO-25- 107421 (Washington, D.C.: Jan. 16, 2025). GAO-25-108150 CFS Issues for DOJ Page 1

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