GAO Standards for Internal Control in the Federal Government

The GAO Standards for Internal Control in the Federal Government are guidelines designed to help federal agencies operate efficiently, protect resources, and ensure reliable financial reporting. They focus on establishing effective processes, safeguarding assets, promoting compliance with laws, and achieving organizational objectives. The standards emphasize a structured approach involving clear organizational structures, risk management, accurate information, and ongoing monitoring. Overall, they serve as a framework to help agencies prevent fraud, waste, and errors while improving transparency and accountability.