U.S. Consolidated Financial Statements: Improvements Needed in Controls over Treasury Preparation Processes
What GAO Found GAO’s audit of the fiscal year 2025 consolidated financial statements of the U.S. government (CFS) identified control deficiencies in the processes the Department of the Treasury used to prepare the CFS. These control deficiencies contributed to material weaknesses in internal control that involve the federal government’s inability to adequately account for intragovernmental activity and balances between federal entities; reasonably assure that the consolidated financial statements are (1) consistent with the underlying audited entities’ financial statements, (2) properly balanced, and (3) in accordance with U.S. generally accepted accounting principles (U.S. GAAP); and reaso.
Reported by Maria LopezU.S.
Consolidated Financial Statements: Improvements Needed in Controls over Treasury Preparation Processes.
The item is dated Tue, 15 Sep 2026 07:09:16 -0400.
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What GAO Found GAO’s audit of the fiscal year 2025 consolidated financial statements of the U.S. government (CFS) identified control deficiencies in the processes the Department of the Treasury used to prepare the CFS.
These control deficiencies contributed to material weaknesses in internal control that involve the federal government’s inability to adequately account for intragovernmental activity and balances between federal entities; reasonably assure that the consolidated financial statements are (1) consistent with the underlying audited entities’ financial statements, (2) properly balanced, and (3) in accordance with U.S. generally accepted accounting principles (U.S.
GAAP); and reaso…
The handoff preserves the official source citation and source-completeness evidence supplied by discovery.
Official Source
GAO reports and testimonies RSS. Accessed 2026-09-15T15:00:12.312Z.