Northeast-Midwest Congressional Coalition Financial Statements for 1992 and 1991
AIMD-94-24: Published: Nov 8, 1993. Publicly Released: Nov 8, 1993.
- Full Report:
Pursuant to a congressional request, GAO examined the financial statements of the Northeast-Midwest Congressional Coalition as of December 31, 1992 and 1991, focusing on: (1) the financial statements' reliability and conformity with generally accepted accounting principles; (2) whether the Coalition's internal controls are effective; and (3) the Coalition's compliance with selected laws and regulations.
GAO found that: (1) the financial statements presented fairly, in conformity with generally accepted accounting principles, the Coalition's assets, liabilities, fund balance, revenues, expenses, and cash flow; (2) the financial statements identified member-financed activities and the portion of employee benefits paid with appropriated funds; (3) the internal controls in effect on December 31, 1992, reasonably prevented losses, noncompliance, and material misstatements; and (4) there was no evidence of material noncompliance for 1992.