Review of the Trans-Alaska Pipeline Liability Fund's Financial Statements for the Year Ended December 31, 1981

The Trans-Alaska Pipeline Liability Fund is a federally chartered, privately funded, nonprofit corporation. It was established in 1973 to ensure the payment of allowed claims for damages that result from discharges of oil from vessels loaded with oil from the trans-Alaska pipeline. According to Federal regulations, the Fund is subject to an annual audit by the Comptroller General. However, for the calendar year 1981 a private certified public accounting firm audited and rendered an opinion on the Fund's financial statements.