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Report: IRS Has Faulty Internal Controls "IRS continues to lack accurate, useful, and timely financial information and sound controls with which to make fully informed decisions and to ensure ongoing accountability," says U.S. Comptroller General David Walker.

Sarah Johnson, CFO.com | US
November 14, 2006

Double standard for accounting standards?: Where is Eliot Spitzer when we need him? no public outcry here, no media circus, no SEC attorneys sharpening pikes for the heads of the architects of these inadequate systems?

It's a classic case of "do as I say, not as I do" that sets the double standard. Recognizing that there is a difference between poor internal controls and criminal acts, the issues the IRS appears to face are essentially the same issues many public companies faced years ago. The public companies have been bombarded with oversight that mandates the issues be corrected, there appears to be no such pressure to correct deficiencies within federal agencies.; Posted by Jeff Considine | Nov 15, 2006 11:31 AM ET

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