**GAO-08-693**                      Published: Jul 02, 2008. Publicly Released: Jul 02, 2008.                  

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## Highlights

In its role as the nation's tax collector, the Internal Revenue Service (IRS) has a demanding responsibility in annually collecting trillions of dollars in taxes, processing hundreds of millions of tax and information returns, and enforcing the nation's tax laws. Since its first audit of IRS's financial statements in fiscal year 1992, GAO has identified a number of weaknesses in IRS's financial management operations. In related reports, GAO has recommended corrective action to address those weaknesses. Each year, as part of the annual audit of IRS's financial statements, GAO not only makes recommendations to address any new weaknesses identified but also follows up on the status of weaknesses GAO identified in previous years' audits. The purpose of this report is to (1) assist IRS management in tracking the status of audit recommendations and actions needed to fully address them and (2) demonstrate how the recommendations relate to control activities central to IRS's mission and goals.

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## Topics

Auditing and Financial Management

Accounting proceduresAgency proceedingsAuditing proceduresFinancial institutionsFinancial managementFinancial management systemsFinancial statement auditsFinancial statementsInformation managementInternal controlsNoncompliancePerformance measuresPolicy evaluationProgram evaluationProgram managementRecords managementReporting requirementsStandardsTax administrationTax administration systemsTax refundsTax return auditsTaxpayersVoluntary complianceCorrective actionPolicies and procedures