Skip to main content

Department of the Treasury

Jump To:

Recent Reports

View More Reports

Open Recommendations (97 total)

IT Portfolio Management: OMB and Agencies Are Not Fully Addressing Selected Statutory Requirements

GAO-25-107041
Show
1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should direct the department CIO to work with OMB to ensure that annual reviews of their IT portfolio are conducted in conjunction with the Federal CIO and the Chief Operating Officer or Deputy Secretary (or equivalent), as prescribed by FITARA. (Recommendation 32)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Single Audits: Interior and Treasury Need to Improve Their Oversight of COVID-19 Relief Funds Provided to Tribal Entities

GAO-25-106741
Show
1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should develop and implement procedures to use metrics to improve the effectiveness of Treasury's process for following up on audit findings, including developing baselines and targets, tracking the implementation of corrective action plans, and sharing the metrics with OCA's Chief Operating Officer. (Recommendation 3)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Single Audits: Interior and Treasury Need to Improve Their Oversight of COVID-19 Relief Funds Provided to Tribal Entities

GAO-25-106741
Show
1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should develop and implement procedures to identify tribal recipients that did not submit required single audit reports when due and follow up with those recipients. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

World Bank Procurement: Risk Monitoring Can be Enhanced as U.S. Businesses Face Challenges Competing

GAO-24-106718
Show
2 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should ensure that the Office of International Affairs develops guidance and a formal process for how it will monitor World Bank borrower projects when it determines that monitoring is necessary. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of the Treasury The Secretary of the Treasury should ensure that the Office of International Affairs develops guidance and a formal process to determine whether to monitor individual World Bank borrower projects based on risks to U.S. interests. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

COVID-19: Lessons Can Help Agencies Better Prepare for Future Emergencies

GAO-24-107175
Show
1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should include key lessons from the COVID-19 emergency financial assistance provided to the aviation industry, including those lessons identified by GAO and other auditing entities, in the department's ongoing efforts to compile resources to prepare for future financial disasters. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Emergency Rental Assistance: Treasury Should Improve Data Completeness and Public Reporting

GAO-24-107084
Show
1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should ensure that the Chief of the Office of Capital Access revise ERA2 public reports to include language disclosing details on potential underreporting of ERA2 expenditures, demographic information, and payments to households, and on local jurisdictions' transfer of funds. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Financial Literacy: Better Outcome Reporting Could Facilitate Oversight of Programs for Older Adults and People with Disabilities

GAO-24-106381
Show
1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury, as chair of the Financial Literacy and Education Commission, should coordinate with the vice chair and agencies represented on the Commission to encourage the ongoing collection of data on financial literacy program outcomes and include these data in the Commission's annual report to Congress. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Foreign Investment in the U.S.: Efforts to Mitigate National Security Risks Can Be Strengthened

GAO-24-107358
Show
1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury, as CFIUS's chair, should work with member agencies to establish a committee-wide process to regularly discuss and coordinate the staffing levels needed to address the projected increase in workload associated with monitoring and enforcing CFIUS mitigation agreements. (Recommendation 5)
Open
The Department of the Treasury stated that it agreed with our recommendation and would take steps to address it. As of July 2024, Treasury said that it had engaged with CFIUS member agencies on a committee-wide process to coordinate staffing levels for monitoring and enforcement. Treasury stated that CFIUS member agencies were considering a proposed process for periodic sharing of information and coordination on staffing resources and forecasts. Once Treasury reports that the committee has finalized this process, we plan to verify whether its steps address the recommendation.

Foreign Investment in the U.S.: Efforts to Mitigate National Security Risks Can Be Strengthened

GAO-24-107358
Show
1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury, as CFIUS's chair, should work with member agencies to document a committee-wide process for periodically assessing the relevance of mitigation agreements and amending, phasing out, or terminating them when appropriate. (Recommendation 2)
Open
The Department of the Treasury stated that it agreed with our recommendation and would take steps to address it. As of July 2024, Treasury said that it had engaged with CFIUS member agencies on a committee-wide process related to assessing the continued relevance of mitigation agreements. Treasury stated that CFIUS member agencies were reviewing and providing input on draft committee standard operating procedures that address terminations, waivers, and amendments of mitigation agreements. Once Treasury reports that the committee has finalized these procedures, we plan to verify whether its steps address the recommendation.
View More Recommendations

Related Pages