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Thursday, November 30, 2006

FederalNewsRadio - Federal Financial Report - Bad Accounting

You know you have a problem when an agency's bad accounting is called into question. According to Government Executive, eight agencies reported no improper payments in fiscal 2005, including the Department of Homeland Security. But Congress has held hearings on about $1 billion in improper FEMA hurricane payments, and that's DHS. GAO auditors also found, governmentwide improper payment estimates omitted information on ten major programs. Nine programs that were reported used faulty methods to reach their numbers.

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