Pursuant to a congressional request, GAO audited the balance sheets of the Senate Photographic Studio Revolving Fund as of September 30, 1993, and March 31, 1993, as well as the effectiveness of its internal controls for the periods then ended.

GAO found that: (1) the financial statements were reliable in all material respects; (2) the internal controls in place on September 30, 1993, and March 31, 1993, were effective in safeguarding assets from material loss, ensuring material compliance with laws and regulations, and ensuring that there were no material misstatements in the financial statements; and (3) there was no reportable noncompliance with the laws and regulations tested.