U.S. Merchant Marine Academy: Additional Actions Needed to Establish Effective Internal Control

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A letter report issued by the Government Accountability Office with an abstract that begins "The U.S. Merchant Marine Academy (Academy) has made progress in improving its internal control since GAO’s August 2009 report, but has not yet fully addressed one key recommendation related to fundamental weaknesses in its overall internal control system. GAO found that while the Academy had appointed an Internal Control Officer responsible for coordinating reviews of internal controls, it had not yet established a comprehensive risk-based internal control system to ensure effective and efficient operations, reliable financial reporting, and compliance with laws and regulations, including a monitoring ... continued below

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United States. Government Accountability Office. July 6, 2012.

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Description

A letter report issued by the Government Accountability Office with an abstract that begins "The U.S. Merchant Marine Academy (Academy) has made progress in improving its internal control since GAO’s August 2009 report, but has not yet fully addressed one key recommendation related to fundamental weaknesses in its overall internal control system. GAO found that while the Academy had appointed an Internal Control Officer responsible for coordinating reviews of internal controls, it had not yet established a comprehensive risk-based internal control system to ensure effective and efficient operations, reliable financial reporting, and compliance with laws and regulations, including a monitoring system to help ensure that control deficiencies are proactively identified and promptly corrected. Maritime Administration (MARAD) officials stated that their strategy had been to focus on the deficiencies that could be readily resolved. As of September 30, 2011, Academy and MARAD officials had addressed 32 of the other 46 prior recommendations regarding control activity deficiencies."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • July 6, 2012

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  • June 12, 2014, 7:50 p.m.

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United States. Government Accountability Office. U.S. Merchant Marine Academy: Additional Actions Needed to Establish Effective Internal Control, report, July 6, 2012; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc302762/: accessed October 24, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.