IRS and Troubles With Internal Financial Reporting

Two Government Accountability Office (GAO) reports have identified weaknesses in the Internal Revenue Service’s financial reporting controls.

A report on information security, detailing the findings of an audit performed between April 2011 and March 2012 and released on March 16, is entitled, “IRS Need to Further Enhance Internal Control over Financial Reporting and Taxpayer Data.”

“Despite IRS’s efforts, weaknesses in controls over key financial and tax processing systems continue to jeopardize the confidentiality, integrity, and availability of financial and taxpayer information,” the report said.

Steven Sebastian, the GAO Director of Financial Management and Assurance, told CNSNews.com the weaknesses could impact taxpayers.

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