Internal Control Reviews Conducted at Army's 5th Regional Finance and Accounting Office and V Corps Locations

AFMD-93-6ML: Published: Jan 5, 1993. Publicly Released: Jan 27, 1993.

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GAO reviewed the Army's Regional Finance and Accounting Office's financial management systems and operations. GAO found that: (1) internal controls were ineffective and failed to reflect all year-end account balances; (2) the Army understated the value of nontactical equipment by nearly $39 million due to its failure to follow established reporting requirements; (3) computer system coding errors resulted in unreliable stock-funded inventory reporting; (4) ineffective controls over travel voucher preparations, blank treasury checks and cash accounting, and time, attendance, and payroll deduction computations could result in losses or fraud; and (5) the Army needed to increase internal accounting controls to ensure proper accountability and protection of resources.

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