Treasury’s Fiscal Assistance problems personal debt to borrow cash for federal operations, and studies the financial debt on economical statements called the Schedules of Federal Debt.
We audit and concern viewpoints per year on the Schedules and on relevant internal controls (e.g., procedures to moderately guarantee that transactions are appropriately approved and recorded).
In FY 2022, Fiscal Company resolved 8 of our past recommendations to appropriate weaknesses in Treasury’s controls around information systems. But 15 linked tips remain unresolved—posing challenges, these kinds of as unauthorized access to, modification of, or disclosure of delicate facts.
What GAO Found
All through its audit of the fiscal yr 2022 and 2021 Schedules of Federal Debt managed by the Section of the Treasury’s Bureau of the Fiscal Provider, GAO determined that Fiscal Service adequately resolved manage deficiencies in safety management, access controls, and configuration management these that GAO no for a longer time considers the remaining manage deficiencies in information and facts process controls, individually or collectively, to characterize a significant deficiency as of September 30, 2022.
GAO determined recurring circumstances affiliated with earlier described data procedure handle deficiencies. Nevertheless, GAO did not establish any new reportable money info program control deficiencies appropriate to the Timetable of Federal Personal debt.
GAO determined that corrective steps ended up entire for eight suggestions and in system for the remaining 15 open up recommendations. Specifically, added actions are needed to take care of six tips similar to protection administration, just one advice related to accessibility controls, and 8 tips related to configuration management. These remaining facts program control deficiencies improve the threat of unauthorized entry to, modification of, or disclosure of delicate info and programs and disruption of important functions. Fiscal Services mitigated the possible result of these deficiencies on fiscal reporting for fiscal yr 2022 with compensating administration and reconciliation controls designed to detect possible misstatements on the Routine of Federal Personal debt. It will be essential for Fiscal Service management to continue on concentrating attempts on well timed addressing the remaining tips, some of which have been open up for several several years, linked to these data process command deficiencies.
In the Restricted Official USE ONLY report, GAO communicated detailed information and facts about actions Fiscal Service took to handle suggestions that ended up open up as of September 30, 2021.
Why GAO Did This Study
GAO is demanded to audit the consolidated monetary statements of the U.S. authorities. Due to the fact of the significance of the federal personal debt held by the public to the authorities-extensive economical statements, GAO audits Fiscal Service’s Schedules of Federal Personal debt per year. As section of these audits, GAO assesses vital controls around Fiscal Provider economical details systems that are applicable to the Schedules of Federal Financial debt.
This report offers (1) any data method manage deficiencies determined throughout GAO’s fiscal 12 months 2022 audit of the Agenda of Federal Personal debt and (2) the status of Fiscal Service’s corrective steps to address recommendations related to data method command deficiencies identified in GAO’s prior experiences that had been open up as of September 30, 2021.
For far more facts, make contact with Cheryl E. Clark at (202) 512-3406 or [email protected].
