DOD Financial Management: Improper Use of Foreign Currency Fluctuations Account

NSIAD-86-173 Published: Jul 11, 1986. Publicly Released: Aug 05, 1986.

Highlights

In response to a congressional request, GAO: (1) reviewed the Department of Defense (DOD) Foreign Currency Fluctuations, Defense (FCFD) account; (2) analyzed the need and justifications for transactions involving FCFD; (3) determined the source and type of funds being transferred into FCFD; and (4) determined the impact of the Balanced Budget and Emergency Deficit Control Act of 1985 on FCFD.

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Topics

National Defense

Accounting proceduresDefense budgetsDeficit reductionFinancial managementForeign currency accounts (Treasury)Unobligated budget balancesForeign currencyForeign exchange ratesMilitary forcesAccounting records