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Financial Audit: Export-Import Bank's 1986 and 1985 Financial Statements

AFMD-87-61 Published: Aug 31, 1987. Publicly Released: Aug 31, 1987.
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Highlights

Pursuant to a legislative requirement, GAO examined the financial records and internal accounting controls of the Export-Import Bank of the United States (Eximbank) for the years ended September 30, 1986, and 1985.

Recommendations

Recommendations for Executive Action

Agency Affected Recommendation Status
Export-Import Bank of the United States The Chairman should direct Eximbank's controller to monitor and report on FCIA progress toward resolving its internal accounting control system weaknesses, including completing and implementing its new computer systems, to ensure financial information is accurately processed by FCIA and correctly reported to Eximbank for inclusion in its financial statements.
Closed – Implemented
The internal accounting control system weaknesses noted in the GAO FY 1986 report were corrected during FY 1987.

Full Report

Full Report (36 pages)

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Topics

Auditing and Financial Management
Accounting proceduresAuditing standardsCorporate auditsFinancial recordsFinancial statement auditsForeign loansInternal controlsLending institutionsLoan defaultsNoncomplianceOff-budget federal entitiesReporting requirements