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- Title
Addressing Fiscal Risks: A Case of Greater Truth and Transparency in Government Financial Reporting.
- Authors
Walker, David M.
- Abstract
In this article the author, who is the Comptroller General of the United States, focuses on fiscal risks in the context of the need of truth and transparency in Government financial reporting in the United States. He reports that the U.S. has a serious and growing fiscal imbalance as most of the financial institutions begin to retire and put unprecedented strains on the nation's spending and tax policies. The impact of slower economic growth and the recent difficulty in maintaining fiscal restraint have not helped matters. According to the author, the federal government is in a part responsible for this existing condition because government financial reporting provides an unrealistic and even misleading picture of the federal government's overall performance and financial condition.
- Subjects
UNITED States; FINANCIAL statements; FISCAL policy; TAXATION; GOVERNMENT financial institutions; FEDERAL regulation; ECONOMIC development
- Publication
International Journal of Government Auditing, 2004, Vol 31, Issue 1, p7
- ISSN
0047-0724
- Publication type
Article