National Credit Union Administration's FY 1987 and 1986 Financial Statements
AFMD-89-13: Published: Dec 21, 1988. Publicly Released: Dec 21, 1988.
- Full Report:
GAO reviewed the independent certified public accountant's audits of the fiscal years 1987 and 1986 financial statements of the National Credit Union Administration's (NCUA) Operating and Share Insurance funds and Central Liquidity Facility.
GAO found that: (1) in the auditor's opinion, the financial statements presented fairly the financial positions of the funds and the Facility as of September 30, 1987 and 1986, and the results of their operations and changes in financial position for the years then ended, in conformity with generally accepted accounting principles; and (2) the financial statements, together with the private auditor's opinions and GAO review of that work, provided Congress with a dependable basis for overseeing the NCUA financial position.