Tennessee Valley Authority's Financial Statements for 1987
AFMD-88-80: Published: Sep 30, 1988. Publicly Released: Sep 30, 1988.
GAO reviewed an independent audit of the Tennessee Valley Authority's (TVA) financial statements for the fiscal year ended September 30, 1987, the results of its operations, and changes in its financial position for the year then ended.
GAO found that: (1) in the independent auditor's opinion, the financial statements presented fairly the TVA financial position as of September 30, 1987, the results of its operations, and the changes in its financial position in conformity with generally accepted accounting principles; (2) the auditor's reports on internal accounting controls and on compliance with laws and regulations did not disclose any material internal control weaknesses or noncompliance with laws and regulations; and (3) there was nothing to indicate that the auditor's opinion on the financial statements or its reports on internal controls and compliance were inappropriate or unreliable.