Review of the Audit Report of the National Academy of Sciences for the Year Ended June 30, 1976

B-55712: Published: Jul 26, 1977. Publicly Released: Jul 26, 1977.

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A review of the audit report of the National Academy of Sciences for the year ended June 30, 1976, indicated that the audit and financial reporting requirements of Public Law 88-504 had been met for fiscal year 1976.

The audit report for this federally chartered corporation, which was prepared by a firm of certified public accountants, included a statement of the scope of the audit and the auditor's opinion that, subject to the effect, if any, on the financial statements of the resolution of certain disputed costs associated with U.S. Government contracts, the financial statements presented fairly the financial position of the National Academy of Sciences at June 30, 1976. It also presented the results of the operations and changes in fund balances for the year then ended in conformity with generally accepted accounting principles applied on a basis consistent with the preceding year.

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