GAO: U.S. Consolidated Financial Statements: Improvements Needed in Controls over Treasury Preparation Processes
What GAO Found GAO’s audit of the fiscal year 2025 consolidated financial statements of the U.S. government (CFS) identified control deficiencies in the processes the Department of the Treasury used to prepare the CFS. These control deficiencies contributed to material weaknesses in internal control that involve the federal government’s inability to adequately account for intragovernmental activity and balances between federal entities; reasonably assure that the consolidated financial statements are (1) consistent with the underlying audited entities’ financial statements, (2) properly balanc [gao:material weakness]
Evidence
1 sources- 01https://www.gao.gov/products/gao-26-109081
GAO
trust 0.90“What GAO Found GAO’s audit of the fiscal year 2025 consolidated financial statements of the U.S. government (CFS) identified control deficiencies in the processes the Department of the Treasury used to prepare the CFS. These control deficiencies contributed to material weaknesses in internal control that involve the federal government’s inability to adequat…”
Across the aisle
Voices on this issue
Independent voices from different starting points, on the record about this kind of action. The framework grades behavior, not party — these quotes come from people who would say the same thing under any administration.
From the right
“Conservatism is supposed to be about institutions. If you are tearing the institutions down, you are not doing conservatism.”
Adam Kinzinger
Former Republican congressman from Illinois; House Jan 6 Committee member.
Kinzinger has restated this principle across multiple post-2021 appearances. Public statements (consolidated)