Review of the Audit of the National Consumer Cooperative Bank's Financial Statements for the Year Ended December 31, 1982
AFMD-83-101: Published: Sep 30, 1983. Publicly Released: Sep 30, 1983.
- Full Report:
GAO reviewed the independent audits of the balance sheets of the National Consumer Cooperative Bank (NCCB) as of December 31, 1982, and the related statements of operations and retained earnings and changes in financial position for the years then ended.
After examining its workpapers and determining the quality and reliability of its audit, GAO relied on the independent auditor's work as the basis for its review. The auditor concluded that the NCCB financial statements presented fairly the financial position of NCCB as of December 31, 1982, and conformed with generally accepted accounting principles. GAO also found nothing to indicate that the audit was inappropriate or could not be relied on.