Panama Canal Commission's 1993 and 1992 Financial Statements
AIMD-94-89: Published: Mar 31, 1994. Publicly Released: Mar 31, 1994.
- Full Report:
Pursuant to a legislative requirement, GAO audited the Panama Canal Commission's financial statements for the years ended September 30, 1993 and 1992, its internal controls, and its compliance with laws and regulations.
GAO found that the Panama Canal Commission's: (1) financial statements presented fairly, in all material respects, its financial position as of September 30, 1993 and 1992, and the results of its operations, changes in capital, and cash flows for the years then ended, in conformity with generally accepted accounting principles; and (2) internal controls provided reasonable assurance that losses, noncompliance, or misstatements material to the financial statements would be prevented or detected.