Audit Coverage of Internal Financial Operations

The Accounting and Auditing Act of 1950 requires the head of each agency to establish and maintain systems of internal control, including appropriate internal audit, in order to provide effective control over and accountability for all funds, property, and other assets for which the agency is responsible. The internal audit operations of the Department of Agriculture were reviewed to determine the extent to which financial audits are made of the Department's revenues, expenditures, assets, and liabilities. The review concentrated on audits of internal financial areas performed by the Office of Audit during fiscal years 1973 through 1975, with emphasis on fiscal year 1975 coverage.