Examination of the Army's Financial Statements for Fiscal Year 1991
AFMD-92-83: Published: Aug 7, 1992. Publicly Released: Aug 7, 1992.
- Full Report:
Pursuant to a legislative requirement, GAO examined the Army's financial statements for fiscal year 1991.
GAO found that: (1) it was unable to express an opinion on the Army's financial statements; (2) there were material uncertainties regarding the amounts reported for most of the Army's assets; (3) weak internal controls limit the Army's ability to prepare reliable financial statements, safeguard assets, and ensure material compliance with its budget authority; and (4) in two instances, the Army may not have complied with accounting regulations and applicable laws.