Senate Recording Studio Revolving Fund Financial Statements for the Year Ended March 31, 1992
AIMD-94-118: Published: Aug 2, 1994. Publicly Released: Aug 2, 1994.
- Full Report:
Pursuant to a congressional request, GAO audited the financial statements of the Senate Recording Studio Revolving Fund as of March 31, 1992.
GAO found that: (1) the financial statements were reliable in all material respects and presented fairly, in accordance with generally accepted accounting principles, the fund's assets, liabilities, revenues, expenses, and cash flows for the year then ended; (2) the internal controls in effect on March 31, 1992, reasonably ensured that losses, noncompliance, and material misstatements would be prevented or detected; and (3) there was no evidence of material noncompliance with applicable laws or regulations.