Senate Photographic Studio Revolving Fund Financial Statements for the Year Ended March 31, 1992
AIMD-95-25: Published: Dec 20, 1994. Publicly Released: Dec 20, 1994.
- Full Report:
Pursuant to a congressional request, GAO reviewed the Senate Recording and Photographic Studios Revolving Fund's financial statements as of March 31, 1992, and the related statements of operations and cash flows for the year then ended.
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.