Financial statement audits are often viewed as compliance-driven exercises focused on accuracy and presentation. But beneath the surface, these audits can uncover deeper, systemic weaknesses in internal control environments, especially when linked to fraud risks, operational inefficiencies or program vulnerabilities. This panel will explore how federal agencies can leverage insights from financial statement audits to strengthen internal controls, improve risk management and enhance program integrity. Panelists will share real-world examples of how audit findings have led to broader reforms, improved accountability and reduced exposure to fraud, waste and abuse.