OMB has announced that 20 of 24 of the major agencies have achieved clean audit opinions on their financial statements for fiscal 2008, meaning independent auditors have verified their reported financial information.
It’s the highest total in six years, and OMB added that the number of material weaknesses declined by 18 percent from 39 to 32.
It recognized the Army Corps of Engineers for achieving a clean audit for the first time and said it was a step in the right direction for getting DoD to an unqualified opinion.
Also receiving a clean opinion for the first time is the Department of Transportation, which along with the Departments of Justice and Housing and Urban Development, had no material weaknesses despite great size and complexity.
Deputy management director for OMB Clay Johnson recognized the Treasury Department for "the professionalism and dedication they showed in overcoming the unique accounting and reporting challenges that emerged at the end of the fiscal year."
According to OMB, federal agencies are now reporting improper payment measurements for nearly 95 percent of all high-risk programs, up from 85 percent last year.
For example, the error rate for public housing and rental assistance dropped from 5.5 to 3.5 percent, while the error rate for food stamps fell from 6 to 5.6 percent, an $81 million reduction, according to OMB.
