Congressional Award Foundation's Fiscal Years 2014 and 2013 Financial Statements
GAO-15-552: Published: May 15, 2015. Publicly Released: May 15, 2015.
What GAO Found
In GAO’s audits of the Congressional Award Foundation’s (Foundation) financial statements for fiscal years 2014 and 2013, it found that the Foundation’s financial statements are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles. GAO also identified no material weaknesses in internal control over financial reporting based on the limited procedures it performed, and no reportable noncompliance with laws, regulations, contracts, and grant agreements it tested. In commenting on a draft of this report, the Foundation stated that it has continued its efforts to improve operations and internal control over financial reporting. The Foundation also stated that GAO’s audit findings report the positive results of the Foundation’s ongoing efforts.
Why GAO Did This Study
In accordance with section 107 (2 U.S.C. § 807) of the Congressional Award Act, as amended, GAO is responsible for conducting audits of the Foundation’s financial statements.
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