This is the accessible text file for CG Presentation number GAO-08- 842CG entitled 'Auditing and Advising in a Time of Transition' which was released on May 22, 2008. This text file was formatted by the U.S. Government Accountability Office (GAO) to be accessible to users with visual impairments, as part of a longer term project to improve GAO products' accessibility. Every attempt has been made to maintain the structural and data integrity of the original printed product. Accessibility features, such as text descriptions of tables, consecutively numbered footnotes placed at the end of the file, and the text of agency comment letters, are provided but may not exactly duplicate the presentation or format of the printed version. The portable document format (PDF) file is an exact electronic replica of the printed version. We welcome your feedback. Please E-mail your comments regarding the contents or accessibility features of this document to Webmaster@gao.gov. This is a work of the U.S. government and is not subject to copyright protection in the United States. It may be reproduced and distributed in its entirety without further permission from GAO. Because this work may contain copyrighted images or other material, permission from the copyright holder may be necessary if you wish to reproduce this material separately. United States Government Accountability Office: GAO: Auditing and Advising in a Time of Transition: 17th Biennial Forum of Government Auditors: Philadelphia, PA: May 21, 2008: Gene L. Dodaro: Acting Comptroller General of the United States: GAO-08-842CG: Presentation Overview: * Upcoming transitions and GAO’s role. * Common challenges confronting federal, state, and local governments. * Implications of global developments. Upcoming Transitions: * The first time since 1952 that there is neither an incumbent President nor Vice President running. * Only the second major transition in the last 16 years; the first in a post 9/11 environment. * Eleven states and two territories holding gubernatorial elections. Presidential Transition Act: * Enacted in 1964 for an orderly transfer of executive power; * Provides for federal funding and disclosures; * Recognizes GAO as important resource. GAO’s Evolving Strategy to Serve the Congress and the Nation: * Continue identifying major risks, 21st century challenges, and opportunities; * Press forward on key management reforms; * Sustain attention on the nation’s long-term fiscal imbalance. GAO’s Role in Transition Efforts: * Update the high-risk list, which covers four areas: - broad-based transformations; - federal contracting; - tax law administration; - insurance and benefit programs; * Outreach to new members and their staff; * Develop transition websites and materials: - salient points from key GAO products; - agency-specific program and management issues; - crosscutting/government-wide issues; - open recommendations. * Reviewing agencies' plans, with a particular focus on homeland security; * Monitoring the presidential transition to capture and highlight lessons learned and possible future revisions to the Presidential Transition Act. Common Challenges: In light of transitions, federal, state, and local governments will need to maintain focus on: * emergency preparedness & homeland defense; * critical infrastructure systems; * 2010 Census. Emergency Preparedness and Homeland Defense: * Role of the “new” FEMA; * Gaps in NORTHCOM collaboration; * National Guard and Reserve readiness; * Public health systems and pandemic planning. The New FEMA: * FEMA given the lead to prepare for and respond to major disasters, including catastrophic disasters and terrorist incidents; * FEMA, rather than the Red Cross, designated as the lead for mass care and shelter; * FEMA to build robust partnerships with states, local governments, and nonprofit/private organizations. FEMA has enhanced its responsibilities for coordinating the activities of voluntary organizations: * established a national council and 10 regional advisory councils; * created regional planning positions to facilitate coordinated federal, state, and local emergency preparedness plans. However, GAO has found that FEMA does not currently have a sufficient number of specialized staff to meet this responsibility. Gaps in NORTHCOM’s Collaboration: * NORTHCOM officials minimally involved the states in developing homeland defense and civil support plans; * NORTHCOM officials were unfamiliar with state emergency response plans; * Existing agreement between NORTHCOM and National Guard Bureau does not clearly define roles and responsibilities. National Guard and Reserve Readiness: * Balancing Guard’s work on overseas missions with efforts related to domestic catastrophe; * Improving planning efforts to identify the Guard’s requirements for responding to large-scale, multi-state civil support missions; * Using alternative funding sources for the Guard’s civil support role. Public Health System and Pandemic Planning: In consideration of a mass casualty event or public health crisis: * Assessing states’ preparation for a medical surge and efforts to clarify the role of first responders (ongoing); * Enhancing the tools of state audit offices to evaluate pandemic planning at the local level (e.g., partnership efforts of the Domestic Working Group). Critical Infrastructure Systems: * Power distribution; * Water supply; * Telecommunications; * National defense; * Emergency services. All rely on computerized information and electronic data. Protecting Critical Infrastructure Systems: * Improving physical security; * Guarding sensitive information (cyber CIP). Financing Critical Infrastructure Systems: * Recognizing that traditional sources of funds may be insufficient; * Exploring alternative financing mechanisms. The 2010 Census: Long-standing deficiencies and emerging challenges with the 2010 Census include: * shortcomings in managing information technology; * uncertainty of cost estimates; * the elimination of several dress rehearsal activities. Examples of Relevant CG Forums on Cross-cutting Domestic Issues: Recent Forums: * Counter-terrorism; * Homeland security risk management; * Natural resources and environmental sustainability; * Transportation policy; * Future of health care; * Global competitiveness & higher education. Upcoming Forums: * Investing in children and families; * Building a strong human capital base in the government accountability community. State and Local Fiscal Challenges Add to the Nation’s Fiscal Difficulties: [See PDF for image] This is a line graph with two lines (Federal Surplus/Deficit and Combined Surplus/Deficit). The vertical axis represents Percent of GDP from -20 to +5 and the horizontal axis represents fiscal years 2000 through 2050. The following data is depicted: Fiscal year: 2000: Federal Surplus/Deficit[A]: 2.4; Combined Surplus/Deficit: 2.141. Fiscal year: 2001: Federal Surplus/Deficit[A]: 1.3; Combined Surplus/Deficit: 0.596. Fiscal year: 2002: Federal Surplus/Deficit[A]: -1.5; Combined Surplus/Deficit: -2.624. Fiscal year: 2003: Federal Surplus/Deficit[A]: -3.5; Combined Surplus/Deficit: -4.577. Fiscal year: 2004: Federal Surplus/Deficit[A]: -3.6; Combined Surplus/Deficit: -4.516. Fiscal year: 2005: Federal Surplus/Deficit[A]: -2.6; Combined Surplus/Deficit: -3.389. Fiscal year: 2006: Federal Surplus/Deficit[A]: -1.9; Combined Surplus/Deficit: - 2.677. Fiscal year: 2007: Federal Surplus/Deficit[A]: -1.2; Combined Surplus/Deficit: -1.8. Fiscal year: 2008: Federal Surplus/Deficit[A]: -1.6; Combined Surplus/Deficit: -2.2. Fiscal year: 2009: Federal Surplus/Deficit[A]: -2; Combined Surplus/Deficit: -2.6. Fiscal year: 2010: Federal Surplus/Deficit[A]: -2.6; Combined Surplus/Deficit: -3.2. Fiscal year: 2011: Federal Surplus/Deficit[A]: -2.9; Combined Surplus/Deficit: -3.5. Fiscal year: 2012: Federal Surplus/Deficit[A]: -2.8 Combined Surplus/Deficit: -3.5. Fiscal year: 2013: Federal Surplus/Deficit[A]: -3.3; Combined Surplus/Deficit: -4. Fiscal year: 2014: Federal Surplus/Deficit[A]: -3.6; Combined Surplus/Deficit: -4.3. Fiscal year: 2015: Federal Surplus/Deficit[A]: -3.8; Combined Surplus/Deficit: -4.5. Fiscal year: 2016: Federal Surplus/Deficit[A]: -4.2; Combined Surplus/Deficit: -4.9. Fiscal year: 2017: Federal Surplus/Deficit[A]: -4.4; Combined Surplus/Deficit: -5.2. Fiscal year: 2018: Federal Surplus/Deficit[A]: -4.8; Combined Surplus/Deficit: -5.7. Fiscal year: 2019: Federal Surplus/Deficit[A]: -5.2; Combined Surplus/Deficit: -6.1. Fiscal year: 2020: Federal Surplus/Deficit[A]: -5.6; Combined Surplus/Deficit: -6.6. Fiscal year: 2021: Federal Surplus/Deficit[A]: -6.1; Combined Surplus/Deficit: -7.2. Fiscal year: 2022: Federal Surplus/Deficit[A]: -6.7; Combined Surplus/Deficit: -7.8. Fiscal year: 2023: Federal Surplus/Deficit[A]: -7.2; Combined Surplus/Deficit: -8.4. Fiscal year: 2024: Federal Surplus/Deficit[A]: -7.8; Combined Surplus/Deficit: -9.2. Fiscal year: 2025: Federal Surplus/Deficit[A]: -8.5; Combined Surplus/Deficit: -9.9. Fiscal year: 2026: Federal Surplus/Deficit[A]: -9; Combined Surplus/Deficit: -10.6. Fiscal year: 2027: Federal Surplus/Deficit[A]: -9.7; Combined Surplus/Deficit: -11.3. Fiscal year: 2028: Federal Surplus/Deficit[A]: -10.3; Combined Surplus/Deficit: -12. Fiscal year: 2029: Federal Surplus/Deficit[A]: -10.9; Combined Surplus/Deficit: -12.7. Fiscal year: 2030: Federal Surplus/Deficit[A]: -11.5; Combined Surplus/Deficit: -13.4. Fiscal year: 2031: Federal Surplus/Deficit[A]: -12.2; Combined Surplus/Deficit: -14.2. Fiscal year: 2032: Federal Surplus/Deficit[A]: -12.8; Combined Surplus/Deficit: -14.9. Fiscal year: 2033: Federal Surplus/Deficit[A]: -13.5; Combined Surplus/Deficit:-15.7. Fiscal year: 2034: Federal Surplus/Deficit[A]: -14.2; Combined Surplus/Deficit: -16.6. Fiscal year: 2035: Federal Surplus/Deficit[A]: -14.8; Combined Surplus/Deficit: -17.3. Fiscal year: 2036: Federal Surplus/Deficit[A]: -15.5; Combined Surplus/Deficit: -18.1. Fiscal year: 2037: Federal Surplus/Deficit[A]: -16.3; Combined Surplus/Deficit: -18.9. Fiscal year: 2038: Federal Surplus/Deficit[A]: -16.9; Combined Surplus/Deficit: -19.7. Fiscal year: 2039: Federal Surplus/Deficit[A]: -17.6; Combined Surplus/Deficit: -20.5. Fiscal year: 2040: Federal Surplus/Deficit[A]: -18.3; Combined Surplus/Deficit: -21.3. Fiscal year: 2041: Federal Surplus/Deficit[A]: -19; Combined Surplus/Deficit: -22.1. Fiscal year: 2042: Federal Surplus/Deficit[A]: -19.8; Combined Surplus/Deficit: -23. Fiscal year: 2043: Federal Surplus/Deficit[A]: -20.4; Combined Surplus/Deficit: -23.8. Fiscal year: 2044: Federal Surplus/Deficit[A]: -21.2; Combined Surplus/Deficit: -24.6. Fiscal year: 2045: Federal Surplus/Deficit[A]: -21.9; Combined Surplus/Deficit: -25.5. Fiscal year: 2046: Federal Surplus/Deficit[A]: -22.7; Combined Surplus/Deficit: -26.4. Fiscal year: 2047: Federal Surplus/Deficit[A]: -23.4; Combined Surplus/Deficit: -27.2. Fiscal year: 2048: Federal Surplus/Deficit[A]: -24.2; Combined Surplus/Deficit: -28.1. Fiscal year: 2049: Federal Surplus/Deficit[A]: -24.9; Combined Surplus/Deficit:- 29. Fiscal year: 2050: Federal Surplus/Deficit[A]: -25.8; Combined Surplus/Deficit: -29.9. Source: GAO’s April 2008 analysis. [A] Under GAO’s Alternative simulation. [End of graph] Implications of Global Developments: * Food and drug safety; * Food and energy supply; * Debt finance and financial markets. Food and Drug Safety: * Federal oversight of food safety added to GAO’s high risk list in 2007; * Global food and drug supply issues critical: – Weaknesses in FDA’s inspections of foreign drug and foreign medical device manufacturers; – accidental contamination of FDA-regulated food products. Food and Energy Supply: Ongoing work: * Threats to food security and World Food Summit improvement efforts; * Foreign countries’ responses to food borne illnesses; * Global Nuclear Energy Partnership. Foreign Ownership Share of Federal Debt Held by the Public Has Increased: [See PDF for image] This figure contains two pie charts, with the following compositions of federal debt by category: 1996: Total Debt held by the public: $3.73 trillion: Domestic investors and state and local governments: 62%; Foreign and international investors: 28%; Federal Reserve: 10%. 2007: Total Debt held by the public: $5.04 trillion: Domestic investors and state and local governments: 40%; Foreign and international investors: 45%; Federal Reserve: 15%. Source: Department of the Treasury. Note: Totals and percent increases may not add due to rounding. [End of graph] Debt Finance and Financial Markets: Ongoing work: * Implications of sovereign wealth funds; * Poor country debt relief; * U.S. financial regulatory structure. 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