Examination of the Bureau of the Public Debt's Fiscal Year 1997 Schedule of Federal Debt
AIMD-98-65: Published: Feb 27, 1998. Publicly Released: Feb 27, 1998.
- Full Report:
Pursuant to a legislative requirement, GAO reported on the results of its audit of the Schedule of Public Debt managed by the Bureau of Public Debt (BPD) for the fiscal year ended September 30, 1997.
GAO noted that: (1) the Schedule of Federal Debt was reliable in all material aspects; (2) management fairly stated that the related internal controls in place on September 30, 1997, were effective in safeguarding assets, as reflected in footnotes 5 and 6 to the Schedule of Federal Debt, from material loss, assuring material compliance with laws governing the use of budget authority and with other laws and regulations relevant to the Federal Debt managed by BPD, and assuring that there were no material misstatements in the Schedule of Federal Debt; and (3) there was no reportable noncompliance with selected provisions of laws and regulations tested by GAO, and there were no instances where BPD's financial management systems, related to the Schedule of Federal Debt, did not substantially comply with the requirements of the Federal Financial Management Improvement Act of 1996.