Pursuant to a legislative requirement and a congressional request, GAO audited the House of Representatives Beauty Shop Revolving Fund financial statements as of December 31, 1989 and 1988, and the related statements of operations and cash flows for the years then ended.

GAO noted that the financial statements presented fairly, in all material aspects, the financial position of the House of Representatives Beauty Shop Revolving Fund as of December 31, 1989 and 1988, and the results of its operations and cash flows for the years then ended, in conformity with generally accepted accounting principles.