Introduction to Management Assurances
GSA is pleased to provide the following assurances as to the status and effectiveness of the internal control and management systems in place at GSA. For FY 2007, GSA’s Administrator provides her unqualified Statement of Assurance on overall internal controls, as well as internal control over financial reporting. GSA continues to make progress in strengthening its management practices and internal control to assure the integrity of its programs, operations, and business and financial management systems. GSA has fully embraced the Office of Management and Budget (OMB) Circular A-123, Management’s Responsibilities for Internal Control; the Federal Managers’ Financial Integrity Act (FMFIA); OMB Circular A-127, Financial Management Systems; and the Federal Financial Management Improvement Act (FFMIA) as the foundation of effective internal control essential to timely and reliable financial management operations. The FMFIA requires agencies to establish management controls over their programs and financial systems. GSA’s internal control and audit follow-up programs ensure all internal control reviews are conducted for program components and audit findings are responded to in a timely and accurate manner.
Internal Control
Throughout the fiscal year, GSA managers monitor and improve the effectiveness of internal management control associated with their programs and systems. Effective internal control and management systems go hand in hand with GSA’s well-trained program experts, customer satisfaction, and innovative solutions to ensure GSA meets the ever-changing needs and challenges within the Federal community.
Audit Follow-up
During the fiscal year, the Office of Inspector General (OIG) and the Government Accountability Office (GAO) audit specific GSA programs, systems, and operations. As an agreement is reached between GSA and the auditors through a management decision process, a written plan for corrective action is developed. GSA then submits this plan to the auditors for their concurrence. When the auditors and GSA reach concurrence and the recommendations are met through corrective action, the audit is considered resolved. The audit follow-up program ensures that prompt and responsive action is taken. GSA’s Office of the Chief Financial Officer (OCFO) oversees audit follow-up for the Agency, ensuring all corrective actions are completed and submitted for closure, determining if final action has been completed sufficiently to close the audit.
GSA’s management is confident that the Agency’s systems, controls, and legal compliance will ensure that it meets its responsibility of providing outstanding services at the best value for the U.S. taxpayer.