Congressional Award Foundation's 1996 and 1995 Financial Statements
AIMD-97-87: Published: May 15, 1997. Publicly Released: May 15, 1997.
- Full Report:
Pursuant to a legislative requirement, GAO audited the Congressional Award Foundation's financial statements for the fiscal years (FY) ended September 30, 1996 and 1995, focusing on the Foundation's: (1) internal controls; and (2) compliance with applicable laws and regulations.
GAO noted that: (1) the financial statements were reliable in all material respects; (2) the Congressional Award Foundation's management fairly stated that internal controls in place on September 30, 1996 were effective in safeguarding assets from material loss, assuring material compliance with relevant laws and regulations, and assuring that there were no material misstatements in the financial statements; and (3) there were no reportable noncompliance with laws and regulations GAO tested for the FY ended September 30, 1996.