Panama Canal Commission's 1991 and 1990 Financial Statements
AFMD-92-69: Published: Aug 18, 1992. Publicly Released: Aug 18, 1992.
- Full Report:
Pursuant to a legislative requirement, GAO examined the Panama Canal Commission's financial statements for years ended September 30, 1991 and 1990, its internal controls, and its compliance with laws and regulations.
GAO found that: (1) the Commission's financial statements presented fairly, in all material aspects, its financial position as of September 30, 1991 and 1990, and the results of its operations, changes in investments, and cash flows for the years then ended, in conformity with generally accepted accounting principles; and (2) the audit did not disclose any material weaknesses in internal controls or noncompliance with applicable laws and regulations.