Examination of Financial Statements of Inter-American Foundation for FY Ended September 30, 1979

ID-80-44: Published: Jun 5, 1980. Publicly Released: Jun 5, 1980.

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GAO examined the statement of financial condition of the Inter-American Foundation. The examination was made in accordance with Comptroller General standards for financial and compliance audits and pursuant to the Government Corporation Control Act. Included in the audit was an examination of the related statements of investment of the U.S. Government, grant disbursements and administrative expenses, and changes in the financial position of the Inter-American Foundation for fiscal years 1978 and 1979.

The review of the financial statements of the Inter-American Foundation showed that the financial statements presented fairly the financial position of the Inter-American Foundation for fiscal years 1978 and 1979. Additionally, the review showed that generally accepted accounting principles were applied by the Inter-American Foundation on a consistent basis.

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