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(Solved) (Latest ver. Aug 2020) - Describe accounting problems with recommendations for NASA

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According to NASA's former auditor, PriceWaterhouseCoopers (PWC), NASA's finances are a mess, with major errors in its last financial statements and insufficient documentation. NASA's chief of internal financial management has maintained that the problems resulted from a difficult transition from 10 different internal accounting programs to a new integrated one. According to PWC, the financial chaos stems from basic accounting mistakes and a breakdown in NASA's internal controls.

Describe the financial and accounting problems at NASA.

Provide some recommendations for getting this troubled organization back on track.


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