Efficiency and Effectiveness of OCA Audits of Compliance With Uniform Systems of Accounts
Published: Mar 22, 1983. Publicly Released: Mar 22, 1983.
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Highlights
GAO reviewed the Federal Energy Regulatory Commission's (FERC) Office of the Chief Accountant (OCA) audits of regulated firms' compliance with the FERC Uniform Systems of Accounts.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Federal Energy Regulatory Commission | The Chief Accountant, OCA, should ensure that OCA auditors prepare a written summary of the work performed by the external accountants and conclusions on the reliance that can be placed on that work as required by the OCA audit program. All management and supervisory personnel in the Division of Audits should be held responsible for assuring that this is done and that the summaries and conclusions are used both in justifying audit work performed by OCA and in discussions with external accountants (individual firms and professional associations) to improve the usefulness of their work. |
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
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