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Financial Management: Theater Missile Defense Cooperation Account

NSIAD-95-93 Published: Apr 03, 1995. Publicly Released: Apr 03, 1995.
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Highlights

Pursuant to a legislative requirement, GAO audited the funds accepted by the Secretary of Defense from foreign allies and international organizations for deposit in the Theater Missile Defense Cooperation Account, focusing on: (1) the amounts contributed; (2) the Secretary's efforts to obtain contributions in support of theater missile defense programs; (3) whether the Department of Defense (DOD) established adequate regulations to carry out legal requirements; and (4) whether the financial transactions complied with the law.

Recommendations

Matter for Congressional Consideration

Matter Status Comments
Since there are no funds for GAO to audit, Congress may wish to amend the law and eliminate the requirement that GAO perform an annual audit of the Theater Missile Defense Cooperation Account.
Closed – Implemented
Section 253 of the National Defense Authorization Act for Fiscal Year 1996 repeals Section 242 of the National Defense Authorization Act for Fiscal Year 1994 which established the Theater Missile Defense Cooperation Account and the associated GAO audit requirement.

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Topics

AuditsBallistic missilesDefense operationsFederal regulationsFinancial managementForeign governmentsGifts or gratuitiesInternational cooperationInternational relationsSpecial fund accounts