Financial Audit:

Congressional Award Foundation's Financial Statements for the Periods Ended 9/30/93 and 12/31/92

AIMD-95-14: Published: Nov 25, 1994. Publicly Released: Nov 25, 1994.

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Pursuant to a legislative requirement, GAO audited the Congressional Award Foundation's financial statements as of September 30, 1993, and December 31, 1992, and its related statements of revenues, expenses, and changes in fund balance and statements of cash flows for the periods then ended.

GAO found that: (1) the financial statements were reliable in all material respects; (2) the internal controls in effect on September 30, 1993, provided reasonable assurance that losses, noncompliance with laws and regulations, and misstatements material to the financial statements would be prevented or detected; and (3) there was no material noncompliance with applicable laws and regulations.

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