|Page last updated April 10, 2001|
Our financial statements for the fiscal year that ended September 30, 2000, were audited by an independent auditor, Clifton Gunderson LLP. The independent auditor rendered an unqualified opinion on GAO's financial statements and on the effectiveness of GAO's internal controls over financial reporting and compliance with laws and regulations.
In addition, the independent auditor found no reportable instances of noncompliance with selected provisions of laws and regulations. In the opinion of the independent auditor, the financial statements are presented fairly in all material respects and in conformity with generally accepted accounting principles.
Condensed financial statements are part of this Web site:
To review GAO's full set of financial statements and their accompanying notes, please download the PDF of the full-length version of this report.
Financial Systems and Internal Controls
GAO recognizes the importance of strong financial systems and internal controls to ensure our accountability, integrity, and reliability. To achieve a high level of quality, management maintains a quality control program and seeks advice and evaluation from both internal and external sources.
Specifically, through internal and peer reviews, GAO obtains reasonable assurances that our audit and evaluation work conforms to all applicable professional requirements, including generally accepted government auditing standards.
Additionally, GAO's Inspector General conducts audits and investigations, and an Audit Advisory Committee assists the Comptroller General in overseeing the effectiveness of our financial reporting and audit processes, internal controls, and processes to ensure compliance with laws and regulations.
GAO is committed to fulfilling the internal control objectives of 31 U.S.C. 3512, formerly the Federal Managers' Financial Integrity Act, and the objectives of the Federal Financial Management Improvement Act (FFMIA) of 1996.
We assessed our internal controls as of September 30, 2000, and we believe we had effective controls in place as of that date. In addition, on the basis of assessments of our financial systems, we believe GAO has implemented and maintained financial systems that comply substantially with the objectives of FFMIA for the fiscal year that ended September 30, 2000.