Accounting procedures (71 - 80 of 336 items)
Financial Audit: Federal Deposit Insurance Corporation's 1997 and 1996 Financial Statements
AIMD-98-204: Published: Jun 29, 1998. Publicly Released: Jun 29, 1998.
Pursuant to a legislative requirement, GAO audited the financial statements of the Bank Insurance Fund, the Savings Association Insurance Fund, and the Federal Savings and Loan Insurance Corporation Resolution Fund for the years ended December 31, 1997, and 1996. GAO also reviewed: (1) the Federal Deposit Insurance Corporation (FDIC) management's assertions regarding the effectiveness of its inter...
Financial Audit: Senate Restaurants Revolving Fund for Fiscal Years 1997 and 1996
AIMD-98-193: Published: Jun 23, 1998. Publicly Released: Jun 23, 1998.
Pursuant to a congressional request, GAO reviewed the financial statements of the Senate Restaurants Revolving Fund for the period ended September 30, 1997 and September 28, 1996. GAO contracted with the independent public accounting firm of KPMG Peat Marwick LLP (KPMG) to conduct the audit.GAO noted that: (1) in its audit of the U.S. Senate Restaurants Revolving Fund, KPMG found that: (a) the fin...
Independent Counsels: Inquiry Regarding Expenditures
AIMD-98-140R: Published: May 1, 1998. Publicly Released: May 1, 1998.
Pursuant to a congressional request, GAO provided information on the specificity of expenditure data reported by independent counsels, and the extent to which GAO compiles and maintains itemized information and supporting documentation for the expenditures.GAO noted that: (1) in its most recent audit, GAO reported that the independent counsels' statement of expenditures were reliable in all materi...
Government Auditing Standards: Meaning of 'Present Fairly in Conformity with Generally Accepted Accounting Principles' in Reports on Financial Statements of the Federal Government and Its Component Entities
GAGAS-ED-1: Published: Apr 30, 1998. Publicly Released: Apr 30, 1998.
GAO presented an exposure draft of its revised government auditing standards, to audit officials and others interested in government auditing standards, which summarized proposed changes to financial auditing standards...
Management Letter: Schedule of Loans Receivable Serviced by the Bureau of the Public Debt
AIMD-98-111R: Published: Apr 7, 1998. Publicly Released: Apr 7, 1998.
Pursuant to a legislative requirement, GAO provided information on an internal control matter presented in KPMG Peat Marwick LLP's auditors' report on the Schedule of Loans Receivable serviced by the Bureau of the Public Debt (BPD).GAO noted that: (1) KMPG is responsible for the auditors' report and for the conclusion expressed therein; (2) the purpose of this letter is to advise BPD of an interna...
Internal Control: Essential for Safeguarding Assets, Compliance With Laws and Regulations, and Reliable Financial Reporting
T-AIMD-98-125: Published: Apr 1, 1998. Publicly Released: Apr 1, 1998.
Pursuant to a congressional request, GAO discussed the subject of internal control, focusing on: (1) what internal control is; (2) its importance; and (3) what happens when it breaks down.GAO noted that: (1) internal control is concerned with stewardship and accountability of resources consumed while striving to accomplish an agency's mission with effective results; (2) although ultimate responsib...
Financial Audit: 1997 Consolidated Financial Statements of the United States Government
AIMD-98-127: Published: Mar 31, 1998. Publicly Released: Mar 31, 1998.
GAO reviewed the 1997 consolidated financial statements of the United States government.GAO noted that: (1) significant financial systems weaknesses, problems with fundamental recordkeeping, incomplete documentation, and weak internal controls, including computer controls, prevent the government from accurately reporting a large portion of its assets, liabilities, and costs; (2) these deficiencies...
Kennedy Center: Preventing Audit Duplication and Developing Facility Management Capability
T-GGD-98-86: Published: Mar 25, 1998. Publicly Released: Mar 25, 1998.
GAO discussed two audit reports on the operations of the John F. Kennedy Center for the Performing Arts, focusing on: (1) preventing audit duplication; and (2) developing facility management capability.GAO noted that: (1) as a part of the audit, tests of the Center's compliance with certain provisions of laws, regulations, contracts, and grants are made to identify instances of noncompliance that...
Financial Audit: Schedule of Loans Receivable Serviced by the Bureau of the Public Debt
AIMD-98-66R: Published: Feb 27, 1998. Publicly Released: Feb 27, 1998.
Pursuant to a legislative requirement, GAO reviewed the results of the audit of the Schedule of Loans Receivable from Federal Entities and Related Interest Receivable Serviced by the Bureau of the Public Debt (BPD) at September 30, 1997. GAO contracted with the independent public accounting firm of KPMG Peat Marwick LLP to audit the Schedule of Loans Receivable as of September 30, 1997.GAO noted t...
Agreed-Upon Procedures: Excise Taxes
AIMD-98-78R: Published: Feb 26, 1998. Publicly Released: Feb 26, 1998.
GAO reviewed whether the net excise tax collections and excise tax certifications reported by the Internal Revenue Service (IRS) for the fiscal year (FY) ended September 30, 1997, are supported by the underlying records.GAO noted that: (1) this engagement to apply agreed-upon procedures was performed in accordance with standards established by the American Institute of Certified Public Accountants...