United States Postal Service's Financial Statements for 1985
AFMD-86-72: Published: Sep 24, 1986. Publicly Released: Sep 24, 1986.
- Full Report:
GAO reviewed an independent certified public accountant's audit of the United States Postal Service's (USPS) financial statements for fiscal year 1985.
GAO found that: (1) the financial statements fairly presented the financial position of USPS in conformity with generally accepted accounting principles applied on a consistent basis; and (2) although the omission of reports on internal accounting controls and compliance with laws and regulations was not in accordance with generally accepted government auditing standards, the financial statements were appropriate. GAO believed that the financial statements, together with the certified public accountant's opinion and the GAO review of its work, constituted a dependable basis for Congress' oversight of the USPS financial position.