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Assessing efforts to combat waste and fraud in federal programs : hearing before the Federal Financial Management, Government Information, Federal Services, and International Security Subcommittee of the Committee on Homeland Security and Governmental Affairs, United States Senate, One Hundred Twelfth Congress, second session, March 28, 2012.
Fraud poses a significant risk to the integrity of federal programs and erodes public trust in government. Managers of federal programs maintain the primary responsibility for enhancing program integrity. The objective of this study is to identify leading practices and to conceptualize these practices into a risk-based framework to aid program managers in managing fraud risks. To help managers combat fraud and preserve integrity in government agencies and programs, GAO identified leading practices for managing fraud risks and organized them into a conceptual framework called the Fraud Risk Management Framework (the Framework). The Framework encompasses control activities to prevent, detect, and respond to fraud, with an emphasis on prevention, as well as structures and environmental factors that influence or help managers achieve their objective to mitigate fraud risks.
The Government Accountability Office (GAO) and the Inspectors General (IGs) are our go-to Agencies in government for rooting out, identifying and eliminating waste, fraud, and abuse (WFA) as well as duplicated programs. The reports by GAO started with a pretty simple amendment, offered in 2010 by Senator Coburn, in the debate over increasing the debt ceiling. The GAO was asked to start issuing reports and doing inspections on different duplicative programs; that has resulted in $75 billion worth of savings over 7 years. Based on the amount of budget authority that GAO has-$3.8 billion over that same timeframe-that is a 20:1 return on investment (ROI). We got a recent Congressional Budget Office (CBO) report on the long-term debt and deficit. The projected deficit, over the next 30 years, is $129 trillion. That is about almost $10 trillion over the next decade, $37 trillion in the second decade, and $82 trillion in the third decade. To put that in perspective, the entire private net asset base of the United States-in other words, all of the assets held by businesses and households-is equal to $128 trillion. This is, by the way, to be tacked on top of our $20 trillion of debt-$62,500 for every man, woman, and child in America.