Federal Reserve Banks: Internal Controls Over Cash at Atlanta, Los Angeles, and Philadelphia Banks
AIMD-97-127
Published: Aug 28, 1997. Publicly Released: Aug 28, 1997.
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Highlights
Pursuant to a congressional request, GAO reviewed the work of the Federal Reserve's external auditor, Coopers & Lybrand L.L.P., in reporting on the effectiveness of the internal control structure over financial reporting for cash at the Atlanta and Philadelphia Federal Reserve Banks, and the Los Angeles Branch, focusing on whether: (1) the work was conducted in accordance with applicable professional standards; and (2) supported the auditor's opinion on managements' assertions on the effectiveness of the internal controls over cash operations.
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Accounting proceduresAuditing proceduresBank examinationBank managementCash managementCurrency and coinageFederal reserve banksInternal controlsU.S. CurrencyFinancial reporting