|Page last updated April 10, 2001|
The Audit Advisory Committee assists the Comptroller General in overseeing the U.S. General Accounting Office's (GAO) financial operations. As part of that responsibility, the Committee meets with agency management and its internal and external auditors to review and discuss GAO's external financial audit coverage, the effectiveness of GAO's internal controls over its financial operations, and its compliance with certain laws and regulations that could materially impact GAO's financial statements. The Committee reviews the findings of the internal and external auditors, and GAO's responses to those findings, to ensure that GAO's plan for corrective action includes appropriate and timely follow-up measures. In addition, the Committee reviews and comments on the draft Performance and Accountability Report, including its financial statements. The Committee met twice during fiscal year 2000. During these sessions, the Committee met with the internal and external auditors without GAO management being present.