Excellent Reporting by NASA
National Aeronautics and Space Administration Report Pursuant to Good Accounting Obligation in Government Act of 2019: The Act imposes a requirement on Federal agencies to submit an annual report on publicly-issued Government Accountability Office (GAO) and Federal Office of Inspectors General (OIG) of the United States of America, recommendations classified as “open” for more than one year from the date of the annual budget justification submission.
Professional Accountants cherish their strength in communication. May it be a simple Audit Report on Financial Statements or a detailed Report on Systems, Controls or Compliance, professional Accountant keeps improving the skills and the way observations are presented.
NASA's Report under Good Accounting Obligation
NASA's Report highlights Audit Recommendations by GAO and OIG mainly focusing on improving efficiency and yielding cost savings in NASA's operations. The Report provides an immense resource that professional Accountants may use to help improve their professional understanding and knowledge.
Report attached: Download and read
NASA Report under Good Accounting Obligation
The Report explains the background of publishing the audit recommendations issued by the GAO and OIG of the United States of America. Key reasons included:
to improve transparency into long-standing audit recommendations issued by the Government Accountability Office (GAO) and federal Office of Inspectors General (OIG)
to hold Federal agencies more accountable
to help the public more readily assess agency funding requests in light of unfulfilled efficiency improvements that could potentially yield cost savings
to report on publicly-issued GAO recommendations which were determined to “closed but not implemented.”
to provide an explanation as to why final management action has not yet been completed
to perform a reconciliation of discrepancies between recommendations reported by GAO and OIGs, and Federal agencies.
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