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CPA Audit Quality: Arthur Young and Company's Work at Bell Helicopter Textron Inc.

AFMD-89-6 Published: Dec 19, 1988. Publicly Released: Dec 19, 1988.
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Highlights

In response to a congressional request, GAO reviewed certain aspects of a certified public accountant's (CPA) audits of a government contractor subsidiary's consolidated financial statements to determine whether the CPA firm: (1) considered government audit findings on the subsidiary from 1982 through 1985; and (2) audited the subsidiary's inventory and inventory control systems. GAO also provided information on the circumstances surrounding the subsidiary's hiring of two of the CPA firm's former staff who audited the subsidiary.

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AccountantsAccounting proceduresAccounting systemsAudit oversightAuditing proceduresAuditing standardsContractor personnelFinancial recordsInternal controlsInventory control systems