Financial Audit FY2019 and 2018: The IRS and the Office of Financial Stability

Name: Financial Audit FY2019 and 2018: The IRS and the Office of Financial Stability
Brand: Nova Science Publishers Inc
Price: 195.99 EUR
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Abend Diana(Herausgeber*in)

Nova Science Publishers Inc

Erschienen am 13. März 2020

221 Seiten

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Beschreibung

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Inhalt

Intro
Contents
Preface
Chapter 1
Financial Audit: IRS's FY 2019 and FY 2018 Financial Statements(
Abbreviations
Why GAO Did This Study
What GAO Recommends
What GAO Found
Independent Auditor's Report
Report on the Financial Statements and on Internal Control over Financial Reporting
Management's Responsibility
Auditor's Responsibility
Definition and Inherent Limitations of Internal Control over Financial Reporting
Opinion on Financial Statements
Opinion on Internal Control over Financial Reporting
Significant Deficiency in Internal Control over Unpaid Assessments
Significant Deficiency in Internal Control over Financial Reporting Systems
Other Matters
Required Supplementary Information
Other Information
Report on Compliance with Laws, Regulations, Contracts, and Grant Agreements
Management's Responsibility
Auditor's Responsibility
Results of Our Tests for Compliance with Laws, Regulations, Contracts, and Grant Agreements
Intended Purpose of Report on Compliance with Laws, Regulations, Contracts, and Grant Agreements
Agency Comments
Management's Discussion and Analysis
Financial Statements
Required Supplementary Information
Other Information
Appendix I: Management's Report on Internal Control over Financial Reporting
Appendix II: Comments from the Internal Revenue Service
Chapter 2
Financial Audit: Office of Financial Stability (Troubled Asset Relief Program) FY 2019 and FY 2018 Financial Statements *
List of Committees
Foreword
Message from the Agency Head for the Office of Financial Stability
Executive Summary
Part 1. Management's Discussion and Analysis (Unaudited)
Program Background, Organization Structure, and Operational Goals
Program Background
OFS Organization Structure
TARP Wind-Down Initiatives
Active TARP Programs
Bank Support Programs
CPP
CDCI
Automotive Industry Financing Program
Housing Programs
MHA
HHF
On-Going Operational Goals
Federal Housing Administration Refinance Program
Minimize Cost to Taxpayers
Compliance
Continue to Operate with the Highest Standards of Transparency, Accountability, and Integrity
Audited Financial Statements
TARP Tracker
Oversight by Three Separate Agencies
Congressional Hearings and Testimony
Analysis of Fiscal Years 2019 and 2018 Financial Summary and Cumulative Net Income
Comparative Summary of Net Costs
Comparative Summary of TARP Equity Investments
Inception to Date TARP Program Summary
Comparison of Estimated Lifetime TARP Costs over Time
Key Factors Affecting TARP Future Activities and Ultimate Cost
Analysis of Systems, Controls, and Legal Compliance
Management Assurances
Federal Managers' Financial Integrity Act (FMFIA)
Federal Financial Management Improvement Act and Financial Management Systems
Federal Financial Management Improvement Act (FFMIA)
Financial Management Systems Framework
Legal Compliance
Other Management Information, Initiatives, and Issues
Areas for Improvement
Limitations of the Financial Statements
Part 2. Financial Section
Government Accountability Office Auditor's Report
Independent Auditor's Report
Report on the Financial Statements and on Internal Control over Financial Reporting
Management's Responsibility
Auditor's Responsibility
Definitions and Inherent Limitations of Internal Control over Financial Reporting
Opinion on Financial Statements
Opinion on Internal Control over Financial Reporting
Other Matters
Required Supplementary Information
Other Information
Report on Compliance with Laws, Regulations, Contracts, and Grant Agreements
Management's Responsibility
Auditor's Responsibility
Results of Our Tests for Compliance with Laws, Regulations, Contracts, and Grant Agreements
Intended Purpose of Report on Compliance with Laws, Regulations, Contracts, and Grant Agreements
Agency Comments
Appendix I. Management's Report on Internal Control over Financial Reporting
Management's Report on Internal Control over Financial Reporting
Appendix II. OFS Response to Auditor's Report
Financial Statements
Notes to the Financial Statements
Note 1. Reporting Entity
Note 2. Summary of Significant Accounting Policies
Basis of Accounting and Presentation
Use of Estimates
Credit Reform Accounting
Fund Balance with Treasury
Equity Investments, Net
General Property and Equipment
Accounts Payable and Other Liabilities
Due to the General Fund
Principal Payable to the Bureau of the Fiscal Service
Liabilities for Treasury Housing Programs under TARP
Unexpended Appropriations
Cumulative Results of Operations
Other Financing Sources
Leave
Employee Health and Life Insurance and Workers' Compensation Benefits
Employee Pension Benefits
Related Parties
Note 3. Fund Balance with Treasury
Note 4. Cash on Deposit for Housing Program
Note 5. Treasury Housing Programs Under Tarp
Making Home Affordable
Hardest Hit Fund
FHA Refinance Program
Note 6. Equity Investments, Net and FHA Refinance Program
Equity Investment Programs
Capital Purchase Program
Community Development Capital Initiative
Automotive Industry Financing Program
General Motors Company and General Motors Corporation
Valuation Methodology
Financial Institution Equity Investments
Subsidy Cost and Reestimates
Capital Purchase Program
Community Development Capital Initiative
Automotive Industry Financing Program
Public-Private Investment Program (PPIP)
Summary Table
FHA Refinance Program
Note 7. Due to the General Fund
Note 8. Principal Payable to the Bureau of the Fiscal Service (Fiscal Service)
Note 9. Commitments and Contingencies
Note 10. Statement of Net Cost
Note 11. Statement of Budgetary Resources
Permanent Indefinite Appropriations
Borrowing Authority
Apportionment Categories of Obligations Incurred: Direct versus Reimbursable Obligations
Undelivered Orders
Explanation of Differences between the Statement of Budgetary Resources and the Budget of the United States Government
Note 12. Reconciliation of Net Cost of Operations to Outlays, Net
Required Supplementary Information
Part 3: Other Information (Unaudited)
Section A. Payment Integrity
Risk Assessment
Recapture of Improper Payment Reporting
IPERIA Do Not Pay Initiative
Section B. Fraud Reduction and Data Analytics Act
Overview of the Act
Reporting
Section C. Reduce the Footprint
Overview of the Memorandum
Reporting
Additional TARP Historical Information
Bank Support Programs
CPP
Targeted Investment Program
Asset Guarantee Program
Supervisory Capital Assessment Program
CDCI
Credit Market Programs
Public-Private Investment Program
Term Asset-Backed Securities Loan Facility
Small Business Administration 7(a) Securities Purchase Program
Automotive Industry Financing Program
American International Group, Inc. Investment Program
Housing Programs
MHA
HHF
Support for FHA Refinance Program
TARP Glossary
Index
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